Option on Mid-Columbia Day-Ahead Peak Daily Fixed Price Future6590535

Description

A daily Option on the corresponding Contract Period of the Mid-Columbia Day-Ahead Peak Daily Fixed Price Future.

Market Specifications

Trading Screen Product Name
Peak Futures
Trading Screen Hub Name
Mid C (Daily)
Commodity Code
MPD
Settlement Method
Exercise into Underlying Futures Contract
Contract Size
400 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 365 consecutive daily Contract Periods, excluding Sundays and NERC Holidays
Last Trading Day
At the end of the Trading Session on the last Business Day prior to the Contract Period
Option Style
European
Exercise Method
Automatic Only
Exercise Procedure
Manual exercise or abandon is not permitted
Exercise Day
The third 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-MID C PEAK-ICE
a) Ref Price A - Description
"ELECTRICITY-MID C PEAK-ICE" means that the price for a Pricing Date will be that day's Specified Price per MWh of on-peak electricity for delivery on the Delivery Date, stated in U.S. Dollars, published by ICE at www.theice.com, under the headings "Market Data: Indices: Market: ICE OTC: Report: North American Power: Hub: Mid C Peak" 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
Avg
d) Ref Price A - Pricing calendar
ICE
e) Ref Price A - Delivery Date
Contract Period
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
IFED
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Pwr West Daily
Physical
MPD
Logical
MPD
GMI(FC)
MP
R&N A.C.N.
OU51