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Description

A daily cash settled Exchange Futures Contract based upon the mathematical average of off-peak hourly electricity prices published by CAISO for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name

Off-Peak Futures

Trading Screen Hub Name

SP15 DA Off-Peak

Contract Symbol

SQP

Settlement Method

Cash settlement

Contract Size

25 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 days.

Last Trading Day

The Business Day prior to the Contract Period

Final Settlement

Reference Price A

REFERENCE PRICE A

ELECTRICITY-CAISO-SP15-DAY AHEAD

a) Ref Price A - Description

"ELECTRICITY-CAISO-SP15-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, under the headings "Prices: Report: Reference Prices: P/APNode ID: TH_SP15_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 0100-0600, 2300-2400 PPT

d) Ref Price A - Pricing calendar

CAISO

e) Ref Price A - Delivery Date

Contract Period

Final Payment Date

The fifth Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Related Products

• CAISO SP-15 Day-Ahead Off-Peak Fixed Price Future
• CAISO SP-15 Day-Ahead Peak Fixed Price Future
• CAISO SP-15 Day-Ahead Peak HE 0900-1600 Fixed Price Future
• CAISO SP-15 Day-Ahead Peak Daily Fixed Price Future
• Option on CAISO SP-15 Day-Ahead Peak Daily Fixed Price Future
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Trading Hours

Codes