- Trading Screen Product Name
- Peak Futures
- Trading Screen Hub Name
- ERCOT North 345KV Hub RT (Look Back)
- Commodity Code
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
- 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 365 consecutive daily Contract Periods, excluding Saturdays, Sundays and NERC Holidays
- 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
- Exercise Method
- Exercise Procedure
Manual exercise or abandon is not permitted
- Exercise Day
The sixth Clearing Organization business day following the Last Trading Day
- Automatic Exercise Provisions
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.
- REFERENCE PRICE A
ELECTRICITY-ERCOT-NORTH 345KV HUB-REAL TIME
- a) Ref Price A - Description
"ELECTRICITY-ERCOT-NORTH 345KV 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 ERCOT at
- b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
- c) Ref Price A - Specified Price
Average of SPPs for all hours ending 0700-2200 CPT
- d) Ref Price A - Pricing calendar
- e) Ref Price A - Delivery Date
- Strike Price Listing Provisions
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
- Clearing Venues