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Description

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

Market Specifications

Trading Screen Product Name

TB2 Futures 7X

Trading Screen Hub Name

ERCOT North 345KV Hub DA TB2, 7x

Contract Symbol

TB2

Settlement Method

Cash settlement

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 50 consecutive monthly Contract Periods , or as otherwise determined by the Exchange

Last Trading Day

The last Business Day of the Contract Period

Final Settlement

Average of Reference Price A Prices

REFERENCE PRICE A

ELECTRICITY-ERCOT-NORTH 345KV HUB-DAY AHEAD

a) Ref Price A - Description

ELECTRICITY-ERCOT-NORTH 345KV HUB-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 ERCOT at http://www.ercot.com/content/cdr/html/dam_spp

b) Ref Price A - Pricing Date

Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price

For each calendar day, Monday-Sunday, the average of SPPs for the two highest priced hours, minus the average of SPPs for the two lowest priced hours for all hours ending 0100-2400 CPT

d) Ref Price A - Pricing calendar

ERCOT

e) Ref Price A - Delivery Date

Contract Period

Final Payment Date

The sixth Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes