DELIVERING
EXCHANGE TRADED
ENERGY DERIVATIVES
TO THE AUSTRALIAN
MARKET
FUTURES & OPTIONS_ W W W.D-C Y PHA TR AD ET RAD E.C OM.A U ELECTRICITY
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AU D -C YP H A T R A D E A S X A US T R A L I A N E L E C T R I C I T Y
F U T U R E S C O NT R A C T S PE C I F IC A T IO N S
B A S E L O A D
C O NT R A C TS
Underlying Commodity
Electrical energy bought and sold in the NSW, Victorian, South
Australian and Queensland wholesale pool markets conducted by the
Australian Energy Market Operator (AEMO).
Contract Unit
1 Megawatt of electrical energy per hour bad on a ba load
profile. Where the ba load profile is defined as the National
Electricity Market (NEM) ba load period from 00:00 hours Monday
to 24:00 hours Sunday over the duration of the Contract Quarter.
For example: the size (in Megawatt hours) of each contract quarter
will vary depending on the number of days and ba load hours
within the quarter, as follows:
> A 90 day contract quarter will equate to 2,160 Megawatt hours; > A 91 day contract quarter will equate to 2,184 Megawatt hours; > A 92 day contract quarter will equate to 2,208 Megawatt hours. Price Quotation Prices are quoted in Australian dollars per Megawatt hour. Contract Quarters
March, June, September, December, up to 4 and 1/4 years or 16 -
17 quarters out.
Commodity Code
BN - NSW Ba Load Electricity Futures
BV - VIC Ba Load Electricity Futures
BQ - QLD Ba Load Electricity Futures
BS - SA Ba Load Electricity Futures
HN - NSW Ba Load Electricity Strip Products
HV - VIC Ba Load Electricity Strip Products
HQ - QLD Ba Load Electricity Strip Products
HS - SA Ba Load Electricity Strip Products
Minimum Price Movement
Minimum price fluctuations of $0.05 per Megawatt hour.
Note: Cal and Fin Year Strip Products have a minimum price
fluctuation of $0.01, with the ability to allocate futures contracts
resulting from Cal and Fin Year Strip Products to $0.01 increments.
Tick Size
Tick size under a $0.05/MWh price fluctuation:
> A 2,160 MWh contract quarter has a tick size of $108.00;
> A 2,184 MWh contract quarter has a tick size of $109.20;
> A 2,208 MWh contract quarter has a tick size of $110.40.
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Last Trading Day
The last Business Day of the Contract Quarter. On this day, trading
terminates at 4:00pm.
Trading Hours
9:00am – 4:00pm 1
Cash Settlement Day
The Cash Settlement Day of the Contract shall be the fourth Business
Day after the expiry of the Contract Quarter.
Cash Settlement Price
The Cash Settlement Price is calculated by taking the arithmetic
average of the NEM final ba load spot prices on a half hourly basis,
rounded to two decimal places over the Contract Quarter. A
Provisional Cash Settlement Price will be declared on the first
Business Day after expiry of the Contract and shall be later
confirmed on the third Business Day after expiry.
Cash Settlement Process
Upon the fourth Business Day after the expiry of the Contract, the
Contract will be cash ttled at the ttlement price confirmed on the
third business day of the Contract Quarter. The final ttlement
price is rounded to the nearest cent, as adjusted by NEMMCO and
provided to ASX. All bought and sold contracts in existence as at the
accommodate
clo of trading in the Contract Quarter shall be ttled by the SFE
Clearing at the Cash Settlement Price.
Cash Settlement Value The Cash Settlement Value is the Cash Settlement Price multiplied by
the number of megawatt hours (MWh) in the underlying Contract
Quarter.
1 Unless otherwi indicated, all times are Sydney times.
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AU P E A K P E R I O D C O NT R ACT S
Underlying Commodity
Electrical energy bought and sold in the NSW, Victorian, South
Australian and Queensland wholesale pool markets conducted by the
Australian Energy Market Operator (AEMO).
Contract Unit
1 Megawatt of electrical energy per hour bad on a peak-period
profile. Where the peak-period profile is defined as the National
Electricity Market (NEM) peak-period from 07:00 hours to 22:00
hours Monday to Friday (excluding Public holidays, as determined
and published by ASX) over the duration of the Contract Quarter.
For example: the size (in Megawatt hours) of each contract quarter
will vary depending on the number of days and peak-load hours
within the quarter, as follows:
> A 59 day contract quarter will equate to 885 Megawatt hours;
> A 60 day contract quarter will equate to 900 Megawatt hours;
> A 61 day contract quarter will equate to 915 Megawatt hours; > A 62 day contract quarter will equate to 930 Megawatt hours; > A 63 day contract quarter will equate to 945 Megawatt hours; > A 64 day contract quarter will equate to 960 Megawatt hours; > A 65 day contract quarter will equate to 975 Megawatt hours; > A 66 day contract quarter will equate to 990 Megawatt hours.
Price Quotation
Prices are quoted in Australian dollars per Megawatt hour.
Contract Quarters
March, June, September, December, up to 4 and 1/4 years or 16 -
17 quarters out.
Commodity Code
PN - NSW Peak Period Electricity Futures
PV - VIC Peak Period Electricity Futures
PQ - QLD Peak Period Electricity Futures
PS - SA Peak Period Electricity Futures
DN - NSW Peak Period Electricity Strip Products
DV - VIC Peak Period Electricity Strip Products
DQ - QLD Peak Period Electricity Strip Products
DS - SA Peak Period Electricity Strip Products
Minimum Price Movement
Minimum price fluctuations of $0.05 per Megawatt hour.
Note: Cal and Fin Year Strip Products have a minimum price
fluctuation of $0.01, with the ability to allocate futures contracts
the saturdays
resulting from Cal and Fin Year Strip Products to $0.01 increments.
Tick Size
Tick size under a $0.05/MWh price fluctuation:
> A 885 MWh contract quarter has a tick size of $44.25;
> A 900 MWh contract quarter has a tick size of $45.00;
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> A 930 MWh contract quarter has a tick size of $46.50;
> A 945 MWh contract quarter has a tick size of $47.25;
> A 960 MWh contract quarter has a tick size of $48.00;
> A 975 MWh contract quarter has a tick size of $48.75;
> A 990 MWh contract quarter has a tick size of $49.50.
Last Trading Day
The last Business Day of the Contract Quarter. On this day, trading
terminates at 4:00pm.
Trading Hours
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9:00am – 4:00pm 2
Cash Settlement Day
The Cash Settlement Day of the Contract shall be the fourth Business
Day after the expiry of the Contract Quarter.
Cash Settlement Price The Cash Settlement Price is calculated by taking the arithmetic average of the NEM final peak-period spot prices on a half hourly basis, rounded to two decimal places over the Contract Quarter. A Provisional Cash Settlement Price will be declared on the first Business Day after expiry of the Contract and shall be later confirmed on the third Business Day after expiry.
Cash Settlement Process
Upon the fourth Business Day after the expiry of the Contract, the
Contract will be cash ttled at the ttlement price confirmed on the
third Business Day of the Contract Quarter. The final ttlement price
is rounded to the nearest cent, as adjusted by NEMMCO and
provided to ASX. All bought and sold contracts in existence as at the
clo of trading in the Contract Quarter shall be ttled by the SFE
Clearing at the Cash Settlement Price.
Cash Settlement Value
The Cash Settlement Value is the Cash Settlement Price multiplied by
the number of megawatt hours (MWh) in the underlying Contract
Quarter.
2 Unless otherwi indicated, all times are Sydney times.
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Q U A R T E R L Y B A S E $300 C A P P R O D U C T S
Underlying Commodityacquired
1 Megawatt of electrical energy per hour on a Ba Load profile for
the respective States (NSW, QLD, VIC and SA) over the duration of a
Calendar Quarter.
Contract Years
A total of 8-11 Quarterly products.
Commodity Code
GN - NSW Ba Load Quarterly $300 Cap Electricity Futures
GQ - QLD Ba Load Quarterly $300 Cap Electricity Futures
GV - VIC Ba Load Quarterly $300 Cap Electricity Futures
GS - SA Ba Load Quarterly $300 Cap Electricity Futures
Trading Functionality
Two Calender Years of Strip Products will be available with
commodity codes as follows:
RN - NSW Ba Load Cal Year $300 Cap Strip Products
RQ - QLD Ba Load Cal Year $300 Cap Strip Products
RV - VIC Ba Load Cal Year $300 Cap Strip Products
RS - SA Ba Load Cal Year $300 Cap Strip Products
Minimum Price Movement
Prices are quoted in Australian Dollars per Megawatt hour. The
improve
minimum price fluctuation is $0.01 per MWh.
Last Trading Day
The Last Trading Day is the last business day of the Calendar
Quarter. On this day, trading terminates at 4:00pm.
Cash Settlement Day
The Cash Settlement Day of the Contract shall be the fourth business
day after the expiry of the Calendar Quarter.
Formula For Determining Cash Settlement Value Of A Cap
The Settlement Price = (C - (300 x D)) / E, where:
> C = the sum of all Ba Load half hourly spot prices for the Region
in the Calendar Quarter greater than $300.00.
生活哲理文章> D = the total number of Ba Load half hour spot prices for the
Region in the Calendar Quarter greater than $300.00
> E = the total number of Ba Load half hour spot prices for the
Region in the Calendar Quarter.
Provisional Cash Settlement Value
A Provisional Cash Settlement Value (bad on the provisional prices
provided by NEMMCO) will be declared on the first business day after
the expiry of the Contract and shall be later confirmed on the third
business day after expiry.
Cash Settlement Process
2013雅思考试时间表
Upon the fourth business day after the expiry of the Contract, the
Contract will be cash ttled at the Cash Settlement Value confirmed
on the third business day after the Contract Period. The final Cash
Settlement Value is rounded to the nearest cent, as adjusted by
NEMMCO and provided to ASX. All bought and sold contracts in
existence as at the clo of trading in the Contract Period shall be
ttled by SFE Clearing at the Cash Settlement Value.
