ICE Endex

German Power Financial Base Options

German Power Financial Base Options65898946


Option on the German Power Financial Base Futures contract. At expiry, one lot of German Power Financial Base Options will exercise into one lot of German Power Financial Base Futures.

German Power Financial Base Options are European-style, such that In-The-Money options, unless abandoned prior to expiry, are automatically exercised at expiry. At-The-Money and Out-of-The-Money options will expire un-exercised unless the Member has elected to exercise them.

Market Specifications

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 contract month.
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
1 MW
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
Futures Style
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

Trading Hours

New York2:00 AM - 12:00 PM
02:00 - 12:00

London7:00 AM - 5:00 PM
07:00 - 17:00

Singapore2:00 PM - 12:00 AM
14:00 - 00:00


Clearing Admin Name
German Pwr Fin
R&N A.C.N.