Your browser is unsupported

Description

An Option on a basket of yearly Contract Periods, January-December, of the Underlying Future Contract. For purposes of this Exchange Option, the term “One Time Option” shall mean that the Option will exercise into each of the Contract Periods of the Underlying Futures Contract in the basket using a single reference price, as defined in Reference Price A

Market Specifications

Trading Screen Product Name

Peak Futures (1MW)

Trading Screen Hub Name

NYISO G DA Cal 1x

Contract Symbol

NSG

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 in the basket.

Option Style

European

Exercise Procedure

Automatic Only

Manual exercise or abandon is not permitted

Exercise Day - The Last Trading Day

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-NYISO-ZONE G (HUD VL)-DAY AHEAD-PEAK MONTHLY-ICE

a) Ref Price A - Description

"ELECTRICITY-NYISO ZONE G-DAY AHEAD-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 NYISO ZONE G Day-Ahead 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

Related Products

• NYISO Zone G Day-Ahead Off-Peak Fixed Price Future
• NYISO Zone G Day-Ahead Peak Daily Fixed Price Future
• NYISO Zone G Real-Time Peak Daily Fixed Price Future
• NYISO Zone G Day-Ahead Off-Peak Daily Fixed Price Future
• NYISO Zone G Real-Time Off-Peak Daily Fixed Price Future
Show More

Trading Hours

Codes