- Trading Screen Product Name
- German THE Futures
- Trading Screen Hub Name
- THE (Futures-style)
- Contract Symbol
GNP
- Contract Series
Up to 156 consecutive month contracts, or as otherwise determined
by ICE Endex. Quarterly, seasonal, calendar, and any period of
consecutive monthly contracts can be registered as a
strip”.
- Contract Size
1 MW per day in contract period (i.e. month, quarter, season or
year) x 23, 24 or 25 hours (summer or winter time).
- Unit of Trading
1 MW
- Minimum Trading Size
Options: 5 lots = 5 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
0.5 Euro Cent per MWh
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Strike Price Increments
A minimum of 5 strike prices in increments of €0.50 above and
below the at-the-money Strike Price. 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, five calendar days before the
start of the contract month. If that day is a non-business day or
non-UK business day, expiry will occur on the nearest prior
business day, except where that day is also the expiry date of the
underlying futures contract, in which case expiry will occur on the
preceding business day.
- Option Style
European Style
- Option Premium
Futures Style
- Exercise Procedure
Expires into a corresponding German THE Natural Gas 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 the cessation of trading on
the option expiry day to manually abandon or exercise an option.
- Exchange Rulebook
- MIC Code
- NDEX
- Clearing Venues
- ICEU