Dutch Power Peakload Futures27994941

Description

Contracts are for physical delivery of power to and from the Dutch high voltage grid. Delivery is made equally each hour of each day, excluding weekend days and regardless of public holidays, throughout the delivery period from 08:00 (CET) on the first delivery day of the month until 20:00 (CET) on the last delivery day of the month during the contract period.

Market Specifications

Trading Screen Product Name
Dutch Power Peak Load (8-20) Futures
Trading Screen Hub Name
TenneT
Trading Period
Up to 59 consecutive month contracts or as otherwise determined and announced by the ICE Endex from time to time.

Up to 9 consecutive quarters or as otherwise determined and announced by the ICE Endex from time to time. Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.

Up to 4 consecutive years or as otherwise determined and announced by the ICE Endex from time to time. Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.

Months, quarters and years are listed in parallel.
Expiration Date
Trading will cease at the close of business two Business Days prior to the first calendar day of the delivery month, quarter or calendar.
Contract Security
ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours
Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model
Continuous trading throughout trading hours
Trading Methods
Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading
1 MW
Contract Size
1 MW x weekdays in contract period (i.e. month, quarter or year) x 12 hours
Minimum Trading Size
1 lot = 1 MW
Minimum Block Order
1 lot = 1 MW
Quotation
The contract price is in Euros and Euro cents per MWh
Minimum Price Fluctuation
Futures – 1 Euro Cent per MWh (€0.01/MWh) EFPs/EFSs/Blocks – 1 Euro Cent per MWh (€0.01/MWh)
Maximum Price Fluctuation
There are no limits.
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
Settlement Price
Fixing each Business Day set out in the applicable Operating Time Schedule, Appendix B1, end of day at approximately 16:00 hours. All timings are CET.
Position Limit
Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Initial Margin
Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin
All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate.
Delivery/Settlement Terms
Matching Acquiring and Disposing Trade Nominations (buyer from ICEU, seller to ICEU) are input by buyer, seller and ICEU to TenneT before 13:00 (CET) on each day prior to the commencement of the delivery period. Delivery takes place in kilowatt per quarter hour. The EDSP will be the end of day Settlement Price on the day the contract expires.
MIC Code
NDEX
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
01:45
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
06:45
Singapore2:00 PM - 12:00 AM
14:00 - 00:00
1:45 PM
13:45

Codes

Clearing Admin Name
Dutch Pwr 8-20
Physical
DPA
Logical
DPA
GMI(FC)
R&N A.C.N.