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Description

A financially settled base load daily futures contract based upon the price of each 15-minute Market Time Unit (“MTU”) between 00:00 am and 24:00 of the Austrian Day-Ahead auction comprising the control area operated by Austrian Power Grid. 

Market Specifications

Trading Screen Product Name

Austrian Power Financial Base Daily Futures

Trading Screen Hub Name

Austrian Grid

Contract Symbol

DBH

Contract Series

Up to 92 consecutive daily contracts or as otherwise determined and announced by ICE Endex from time to time. All Daily Products are strips of one or more daily contracts and are listed in parallel.
7 consecutive days.
5 consecutive weekends. Weekends are strips of 2 consecutive daily contracts (Saturday and Sunday).
5 consecutive weeks. Weeks are strips of 7 consecutive daily contracts (Monday through Sunday)

Contract Size

1 MW per day in the contract period (i.e., day, weekend, or week) x 23, 24 or 25 hours (summer or winter time).

Unit of Trading

1 MW

Minimum Trading Size

Futures: 1 lots = 1 MW
Exchange for Physical (EFP): 1 lot = 1 MW
Exchange for Swap (EFS): 1 lot = 1 MW
Block Order: 1 lot = 1 MW

Price Quotation

The contract price is in Euros and Euro cents per MWh. 

Minimum Price Fluctuation

1 Euro Cent per MWh (€0.01/MWh)

Tick Value

Contract Size x Minimum Trade Size x Minimum Price Flux

Last Trading Day

Trading will cease at the close of business on the Business Day prior to the delivery day, except when the delivery day is the day after a non-Business day, in which case trading will cease at the close of business on the first Business Day after the non-Business day.
Trading of Weekend contracts will cease at the close of business on the Business Day prior to the delivery period.
Tradingof Week contracts will cease at the close of business on the last Business Day before the delivery period.

Settlement Method

Financially Settled 

Cash Settlement Price

The cash settlement price of the contract is equal to the arithmetic mean of the price of each 15-minute Market Time Unit (“MTU”) between 00:00 am and 24:00 for the Austrian Day-Ahead auction, for each day throughout the contract period.

Exchange Rulebook

ICE Endex Market Rulebook

MIC Code

NDEX

Clearing Venues

ICEU

Trading Hours

Codes