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ICE Futures U.S.

Option on ERCOT North 345KV Day-Ahead Peak Fixed Price Future

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Description

A monthly Option on the corresponding Contract Period of the ERCOT North 345KV Day-Ahead Peak Fixed Price Future

Market Specifications

Trading Screen Product Name
Peak Futures (1 MW)
Trading Screen Hub Name
ERCOT North 345KV Hub DA
Contract Symbol
EVN
Settlement Method
Exercise into Underlying Futures Contract
Contract Size
1 MW
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 50 consecutive monthly Contract Periods, or as otherwise determined by the Exchange
Last Trading Day
At 2:30pm EPT on the second Business Day prior to the first calendar day of the Contract Period
Option Style
American
Exercise Procedure
Exercise Day manual on any Business Day; Automatic on Last Trading Day

Clearing Members shall provide exercise and abandon instructions to the Clearing Organization in accordance with Clearing Organization Rules.

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-DAY AHEAD-PEAK MONTHLY-ICE
a) Ref Price A - Description
"ELECTRICITY-ERCOT-NORTH 345KV HUB-DAY AHEAD-PEAK MONTHLY-ICE" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity on ICE of the ERCOT North 345KV Day-Ahead Peak Fixed Price Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by ICE on that Pricing Date.
b) Ref Price A - Pricing Date
Two Business Days prior to the first calendar day of the Contract Period
c) Ref Price A - Specified Price
Settlement Price
d) Ref Price A - Pricing calendar
ICE
e) Ref Price A - Delivery Date
Contract Period
Strike Price Intervals
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

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
O-ERCOT Pk Mini
Physical
EVN
Logical
EVN
GMI (FC)
F5
ION A.C.N.
Symbol Code
EVN