- Trading Screen Product Name
- Peak Futures (25 MW)
- Trading Screen Hub Name
- NP15 DA
- Contract Symbol
NPM
- 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 fifth Business Day prior to the first calendar
day of the Contract Period
- Option Style
American
- Exercise Procedure
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-CAISO-NP15-DAY AHEAD-PEAK MONTHLY-ICE
- a) Ref Price A - Description
"ELECTRICITY-CAISO-NP15-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 CAISO NP-15 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
Five 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 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