CAISO MEAD Day-Ahead Peak Daily Swap33257750

Description

A daily cash settled swap based upon the mathematical average of daily prices calculated by averaging the peak hourly electricity prices published by CAISO for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
Fin Swap-Peak
Trading Screen Hub Name
CAISO MEAD DA
Rule Number
13148
Settlement Method
Cash settlement
Contract Size
800 MWh
Currency
US Dollars and cents
Trading Price Quotation
0.05
Listing Cycle
Up to 365 consecutive daily Contract Periods, or as otherwise determined by the SEF
Last Trading Day
For Monday through Friday Contract Periods, excluding NERC holidays, if the following calendar day is a Business Day, the Business Day following the Contract Period with a closing time of 11:00pm EPT the night before; If the following calendar day is not a Business Day, the Business Day equal to the Contract Period with a closing time equal to the end of the Trading Session; For each Saturday, Sunday, and NERC holiday Contract Period, the last Business Day prior to the Contract Period with a closing time equal to the end of the Trading Session.
Final Settlement
Average of Reference Price A Prices
REFERENCE PRICE A
ELECTRICITY CAISO-MEAD-DAY AHEAD
a) Ref Price A - Description
"ELECTRICITY CAISO-MEAD-DAY AHEAD" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery Date, stated in U.S. Dollars, published by the California ISO at http://oasis.caiso.com/, under the headings "Prices: Report: Locational Marginal Prices (LMP): P/APNode ID: MEADS_2_N101: Market: DAM"" or any successor headings, that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
Average of LMPs for all hours ending 0700-2200 PPT
d) Ref Price A - Pricing calendar
CAISO
e) Ref Price A - Delivery Date
Contract Period
Final Payment Date
Ten (10) New York Business Days of the month following the Contract Period via wire transfer of Federal Funds.
Other Terms
To be confirmed directly between the parties in their full form of contract. The terms reflected in such contracts shall be controlling.
MIC Code
ICES
Clearing Venues
IEPA
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:05 PM*
19:50 - 18:05
7:40 PM
19:40
London12:50 AM - 11:05 PM*
00:50 - 23:05
12:40 AM
00:40
Singapore8:50 AM - 7:05 AM*
08:50 - 07:05
8:40 AM
08:40

*Next Day

Codes

Clearing Admin Name
P DA MEAD
Physical
Logical
GMI(FC)
R&N A.C.N.