Option on PJM Tri Qualified Renewable Energy Certificate Class I Future65898969
ICE Futures U.S.

Option on PJM Tri Qualified Renewable Energy Certificate Class I Future

Description

The Options Contract is an option on the PJM Tri-Qualified Renewable Energy Certificate Class I Futures Contract. At expiry, one lot of Options will exercise into one lot of Futures with the corresponding strip.

Market Specifications

Trading Screen Product Name
REC-PJM Futures
Trading Screen Hub Name
REC-PJM CI
Contract Symbol
PPR
Settlement Method
Exercise into Underlying Futures Contract
Contract Size
1 PJM Tri Qualified Renewable Energy Certificate contract
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
1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it determines for the current year and forward for up to ten years.

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, October, November and December
Strike Price Intervals
A minimum of ten Strike Prices in increments of $0.05 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.
Last Trading Day
At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the delivery month.
Option Style
European
Exercise
Automatic

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

Exercise Time 5:30 pm EPT on the Last Trading Day
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
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

Codes

Clearing Admin Name
O-REC-PJM C1
Physical
PPR
Logical
PPR
GMI (FC)
JU
Symbol Code
PPR