Your browser is unsupported

Description

A monthly Option on the corresponding Contract Period of the ERCOT North 345KV Real-Time 2x16 Fixed Price Future

Market Specifications

Trading Screen Product Name

Off-Peak Futures (1 MW)

Trading Screen Hub Name

ERCOT North 345KV Hub RT Off-Peak 7x8

Contract Symbol

ECI

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

Last Trading Day

At 2:30pm EPT on the second Business Day prior to the first calendar day of the Contract Period

Option Style

American

Exercise Procedure

Clearing Members shall provide exercise and abandon instructions to the Clearing Organization in accordance with Clearing Organization Rules.

Options which are "in the money", with respect to Reference Price A, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money" expire automatically.

Exercise Day is manual on any Business Day, Automatic on Last Trading Day

REFERENCE PRICE A

ELECTRICITY-ERCOT-NORTH 345KV HUB-REAL TIME 7x8 MONTHLY-ICE

a) Ref Price A - Description

"ELECTRICITY-ERCOT-NORTH 345KV HUB-REAL TIME 7x8 MONTHLY-ICE" 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, as made public by ICE on that Pricing Date.

b) Ref Price A - Pricing Date

Two Business Days prior to the first calendar day of 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 Listing

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

Trading Hours

Codes