- Trading Screen Product Name
- German Power Financial Base Futures
- Trading Screen Hub Name
- German Grid Early (Q2) 1x Cal
- Contract Symbol
GX2
- Contract Series
Up to 3 consecutive year contracts or as otherwise determined and
announced by ICE Endex from time to time.
- Contract Size
1 MW per day in the contract period x 23, 24 or 25 hours (summer or
winter time).
- Unit of Trading
1 MW
- Minimum Trading Size
Options: 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
0.1 Euro Cent per MWh (€0.001/MWh)
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Strike Price Increments
A minimum of 10 strike prices in increments of increments of
€0.50 above and below the at-the-money Strike Price for the
front 3 expiries. A minimum of 5 strike prices in increments of
increments of €0.50 above and below the at-the-money Strike
Price for the rest of the curve. Strike Price boundaries are
adjusted according to futures price movements. ICE Endex may add
one or more strike prices nearest to the last price listed as
necessary.
- Expiration Date
Trading will cease when the intraday settlement price of the
underlying futures contract is set, at approximately 14:00 CET (as
specified in the Operating Schedule - Appendix B.1) on the day on
which the preceding Dutch TTF Natural Gas Options (Futures Style
Margin) (TFO) July contract month expires.
- Option Style
European Style
- Option Premium
Futures Style
- Exercise Procedure
Expires into a corresponding German Power Financial Base Futures
contract with European-style exercise. If the option is not
abandoned, automatic exercise will occur for options which are one
or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless.
Members will have up to one hour after cessation of trading on the
option expiry day to manually abandon or exercise an option.
- Exchange Rulebook
- MIC Code
- NDEX
- Clearing Venues
- ICEU