Yearly power futures
The table shows the characteristic of yearly power futures:
Characteristic |
Description |
Underlying |
Electricity |
Trading hours |
9:00 am - 5:40pm |
Quotations |
Power futures contracts are quoted in €/MWh. |
Delivery period |
Calendar year |
Delivery rate |
1 MegaWatt (MW) |
Volume |
Number of MWh that are the subject of the contract, which is equal to the number of hours included in the delivery period. |
Contract size |
The size of the contract is determined by the product of the futures price and of its volume |
Tick |
0.01 €/MWh |
Traded contracts |
One yearly contract. |
Last trading day |
Fourth trading day before the beginning of the delivery period. |
Daily closing price |
The daily closing price is established by Cassa di Compensazione e Garanzia. |
Settlement |
Yearly futures cascade into quarterly and monthly futures |
Cascading |
At the end of the last trading day the open positions shall be replaced by equivalent positions in the three monthly futures with delivery periods January, February, March and quarterly futures with delivery periods April-June, July-September and October-December |
Margin |
|
Give-up |
International give-up available. |