- Trading Screen Product Name
- German Power Financial Base Futures
- Trading Screen Hub Name
- German Grid
- Commodity Code
- Trading Period
Up to 36 consecutive month contracts or as otherwise determined and
announced by ICE Endex from time to time.
Quarterly, calendar, and any period of consecutive monthly
contracts can be registered as a strip. For example, a Q1 option is
an option on Jan, an option on Feb, and an option on Mar, with each
option expiring four calendar days before the start of the relevant
- Expiration Date
Trading will cease when the intraday reference price is set,
approximately 14:00 CET (as specified in the Operating Time
Schedule - Appendix B.1), four business days before the start of
the contract month.
Trading of the January contract will cease on the 3rd Thursday in
December. If that day is a non-business day, expiry will occur on
the nearest prior business day
- 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
23, 24 or 25 hours (summer or winter time).
- 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.
- Strike Price Increments
Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
- Minimum Price Fluctuation
0.1 Euro Cent per MWh (€0.001/MWh)
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- 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.
- Option Premium
- Exercise and Automatic Exercise
Expires into a corresponding German Power Financial Base Futures
contract with European-style exercise. If the option is not
abandoned, automatic exercise will occur for options which are one
or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless.
Members will have up to one hour after cessation of trading on the
option expiry day to manually abandon or exercise an option.
- MIC Code
- Clearing Venues