- Trading Screen Product Name
- Belgian Power Financial Peak Futures
- Trading Screen Hub Name
- Belgian Grid
- Contract Symbol
- Trading Period
Up to 59 consecutive month contracts or as otherwise determined and
announced by ICE Endex from time to time.
Up to 9 consecutive quarters or as otherwise determined and
announced by 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 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
Month contracts will cease trading at the close of business one
Business Day prior to the last business day of the contract
Quarter and year contracts will cease trading at the close of
business two Business Days prior to the first calendar day of the
delivery quarter or year.
- 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
- Contract Size
1 MW per day in the contract period (i.e. month, quarter or year) x
- Minimum Trading Size
1 lot = 1 MW (Electronic Futures, EFP, EFS)
- Minimum Block Order
1 lot = 1 MW
The contract price is in Euros and Euro cents per MWh.
- Minimum Price Fluctuation
1 Euro Cent per MWh (€0.01/MWh)
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Settlement Price
The cash settlement price of the contract is equal to the
arithmetic mean of the Belgian Day Ahead auction price of each hour
between 08:00 (CET) and 20:00 (CET) of all days, excluding weekend
days, within the contract delivery period.
- 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.
- Cash Settlement Obligations
In respect to each lot (1 MW) the following payments shall be made:
Where the Cash Settlement Price
(i) exceeds the contract price, payment by the Seller to the
(ii) exceeds the contract price, payment by the Clearing House to
(iii) is less than the contract price, payment by the Clearing
House to the Seller;
(iv) is less than the contract price, payment by the Buyer to the
Clearing House, of an amount calculated by multiplying the
difference between the Cash Settlement Price and the contract price
by the number of hours in the day (12).
Where the Cash Settlement Price is equal to the contract price, no
payments shall be made between the Seller (or Buyer) and the
- MIC Code
- Clearing Venues