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ICE Futures U.S.

Option on NYISO Zone J Day-Ahead Peak Fixed Price Future

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Description

A monthly option on the corresponding Contract Period of the NYISO Zone J Day-Ahead Peak Fixed Price Future.

Market Specifications

Trading Screen Product Name
Peak Futures (1MW)
Trading Screen Hub Name
NYISO J
Contract Symbol
NJY
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
Final Settlement
Reference Price A
REFERENCE PRICE A
ELECTRICITY-NYISO-ZONE J (HUD VL)-DAY AHEAD-PEAK MONTHLY-ICE
a) Ref Price A - Description
"ELECTRICITY-NYISO ZONE J-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 NYISO ZONE J Day-Ahead Peak Fixed Price Swap 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
Option Style
American
Exercise Procedure
Manual; Automatic on Last Trading Day

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

Exercise Day: Manual on any Business Day, Automatic on Last Trading Day

Automatic Exercise Provisions: Options which are "in the money", with respect to Reference Price A, 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.
Strike Price Listing
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-Pwr East Mini
Physical
NJY
Logical
NJY
GMI (FC)
NJ
ION A.C.N.
O935
Symbol Code
NJY