- Trading Screen Product Name
- Peak Futures
- Trading Screen Hub Name
- AD Hub RT (Look Back)
- Contract Symbol
DDO
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
800 MWh
- Currency
USD
- Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
- Listing Cycle
Up to 45 consecutive daily Contract Periods, excluding Saturdays,
Sundays, and NERC Holidays, or as otherwise determined by the
Exchange
- 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.
- Option Style
European
- Exercise Procedure
Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of
the Reference Price A prices, exercise automatically into the
Underlying Futures Contract with a contract price equal to the
Strike Price. Options which are "out of the money" expire
automatically.
Exercise Day: The second Clearing Organization business day
following the Last Trading Day
- REFERENCE PRICE A
ELECTRICITY-PJM-AEP DAYTON HUB-REAL TIME
- a) Ref Price A - Description
"ELECTRICITY-PJM-AEP DAYTON HUB-REAL TIME" 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 PJM at
http://www.pjm.com/markets-and-operations/energy/real-time/lmp.aspx
, under the headings "Daily Real-Time LMP: Daily Real-Time
Locational Marginal Pricing Files: AEP-DAYTON HUB" or any successor
headings, that reports prices effective on that Pricing Date.
- b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
- c) Ref Price A - Specified Price
Average of LMPs for all hours ending 0800-2300 EPT
- d) Ref Price A - Pricing calendar
PJM
- e) Ref Price A - Delivery Date
Contract Period
- Strike Price Listing
A minimum of ten Strike Prices in increments of $1.00 per MWh above
and below the at-the-money Strike Price. Strike Price boundaries
are adjusted according to futures price movements. User-defined
Strike Prices are allowed in $0.05 increments.
- MIC Code
- IFED
- Clearing Venues
- ICEU