- Trading Screen Product Name
- Peak Daily Futures
- Trading Screen Hub Name
- AD Hub DA (Daily)
- Contract Symbol
ADA
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
16 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 38 consecutive daily Contract Periods, or as otherwise
determined by the Exchange
- Last Trading Day
At the end of the Trading Session on the Last Business Day prior to
the Contract Period
- Option Style
European
- Exercise Procedure
Automatic Only
Manual exercise or abandon is not permitted
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.
Exercise Day: The third Clearing Organization business day
following the Last Trading Day
- REFERENCE PRICE A
ELECTRICITY-PJM-AEP DAYTON HUB-DAY AHEAD
- a) Ref Price A - Description
“ELECTRICITY-PJM-AEP DAYTON HUB-DAY AHEAD” 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 PJM at
https://www.pjm.com/markets-and-operations/etools/data-miner-2.aspx,
under the Headings “Daily Day-Ahead Locational Marginal
Pricing (LMP): LMP Day- Ahead Data: AEP-DAYTON HUB” or any
successor headings, that reports Prices effective on the Pricing
Date
- b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
- c) Ref Price A - Specified Price
Average of LMPs for all hours ending 0800-2300 EPT
- d) Ref Price A - Pricing calendar
PJM
- e) Ref Price A - Delivery Date
Contract Period
- Strike Price Listing
A minimum of ten Strike Prices in increments of $0.50 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