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ICE Endex

Nordic Power Financial Base Daily Futures

Description

A financially settled base load daily futures contract based upon the hourly “Elspot System Price” for the Nordic region as quoted and published by Nord Pool Spot AS, for each day throughout the contract delivery period. 

Market Specifications

Trading Screen Product Name
Nordic Power Financial Base Daily Futures
Trading Screen Hub Name
Nordic Grid
Contract Symbol
DNB
Contract Series
"Up to 92 consecutive daily contracts or as otherwise determined and announced by ICE Endex from time to time. All Daily Products are strips of one or more daily contracts and are listed in parallel.
7 consecutive days.
5 consecutive weekends. Weekends are strips of 2 consecutive daily contracts (Saturday and Sunday).
5 consecutive weeks. Weeks are strips of 7 consecutive daily contracts
(Monday through Sunday) "
Contract Size
1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 
Unit of Trading
1 MW
Minimum Trading Size
"Futures: 1 lots = 1 MW
Exchange for Physical (EFP): 1 lot = 1 MW
Exchange for Swap (EFS): 1 lot = 1 MW
Block Order: 1 lot = 1 MW "
Price Quotation
The contract price is in Euros and Euro cents per MWh. 
Minimum Price Fluctuation
1 Euro Cent per MWh (€0.01/MWh)
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
Last Trading Day
"Trading will cease at the close of business on the Business Day prior to the delivery day, except when the delivery day is the day after a non-Business day, in which case trading will cease at the close of business on the first Business Day after the non-Business day. Trading of Weekend contracts will cease at the close of business on the Business Day prior to the delivery period.
Trading of Week contracts will cease at the close of business on the last Business Day before the delivery period "
Settlement Method
Financial Settled 
Exchange Delivery Settlement Price
The cash settlement price of the contract is equal to the arithmetic mean of the hourly price of each hour between 00:00 (CET) and 24:00 (CET) of the Nordic Day-Ahead auction, for each day throughout the contract period.
MIC Code
NDEX
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
01:45
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
06:45
Singapore2:00 PM - 12:00 AM
14:00 - 00:00
1:45 PM
13:45

Codes

Clearing Admin Name
Nordic Pwr Fin
Physical
DNB
Logical
DNB
GMI (FC)
AQ
ION A.C.N.
Symbol Code
DNB