- Trading Screen Product Name
- Peak Daily Futures
- Trading Screen Hub Name
- NP15 DA (Daily)
- Contract Symbol
DPN
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
400 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 365 consecutive 365 daily Contract Periods, excluding Sundays
and NERC Holidays, 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
Manual exercise or abandon is not permitted
Clearing Members shall provide exercise and abandon instructions to
the Clearing Organization in accordance with Clearing Organization
Rules.
For Contract Periods that fall on a Business Day, five Business
Days following the Last Trading Day; for all other Contract
Periods, four Business Days following the Last Trading Day.
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
- a) Ref Price A - Description
"ELECTRICITY-CAISO-NP15-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 California ISO at
http://oasis.caiso.com/mrioasis/logon.do under the headings
"Prices: Locational Marginal Prices(LMP): P/APNode ID:
TH_NP15_GEN-APND" that reports prices effective on that 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 0700-2200 PPT
- d) Ref Price A - Pricing calendar
CAISO
- 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