- Trading Screen Product Name
- Peak Futures
- Trading Screen Hub Name
- AD Hub RT Cal 1x
- Contract Symbol
MSC
- 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 4 consecutive January-December yearly Contract Periods, or as
otherwise determined by the Exchange
- Last Trading Day
At 2:30 pm EPT on the second Business Day prior to the first
calendar day of the Contract Period
- Option Style
European
- Exercise Procedure
At Exercise Time, options which are “in the money”,
with respect to the weighted average of the Reference Price A
prices, will exercise automatically into twelve Underlying Futures
Contracts, one for each contract month in the Contract period, with
a contract price equal to the Strike Price. The weighted average
shall be determined by multiplying the Specified Price for each
Delivery Date, as specified in Reference Price A, by its Weighting
Factor to determine the weighted prices, summing the weighted
prices, and then dividing that sum by the sum of the Weighting
Factors. For purposes of this Exchange Option, the “Weighting
Factor” shall mean a number equal to the number of Pricing
Days in the Contract Period of the Underlying Futures Contract.
Each Contract Period in the basket will have its own Weighting
Factor. If the option is “out of the money”, then it
expires automatically
- REFERENCE PRICE A
ELECTRICITY-PJM-AEP DAYTON HUB-REAL TIME-PEAK MONTHLY-ICE
- a) Ref Price A - Description
ELECTRICITY-PJM-AEP DAYTON HUB-REAL TIME-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 PJM AEP Dayton Hub
Real-Time 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
Second to Last Friday in December preceding 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 Intervals
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