UK Base Electricity Options83049946
ICE Futures Europe
UK Base Electricity Options
Description
Option on the UK Base Electricity Futures (Gregorian) contract. At expiry, one lot of UK Base Electricity Options will exercise into one lot of UK Base Electricity Futures (Gregorian).
Market Specifications
- Trading Screen Product Name
- UK Base Electricity Futures (Gregorian)
- Trading Screen Hub Name
- UK Grid
- Contract Symbol
- UBL
- Contract Series
- Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. 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: 1 lots = 1 MW
Exchange for Physical (EFP): 1 lot = 1MW
Exchange for Swap (EFS): 1 lot = 1MW
Block Order 1 lot = 1MW - Price Quotation
- The contract price is in Pounds and pence per MWh
- Minimum Price Fluctuation
- One pence per MWh (£0.01/MWh)
- Tick Value
- Contract Size x Minimum Trade Size x Minimum Price Fluctuation
- Strike Price Increments
- A minimum of 10 strike prices in increments of £1.00 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. ICE Futures Europe may add one or more strike prices nearest to the last price listed as necessary.
- Last Trading Day
- 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 UK Base Electricity Futures (Gregorian) 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. - MIC Code
- IFEU
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 5:00 PM* 19:50 - 17:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 10:00 PM 00:50 - 22:00 | 12:40 AM 00:40 |
| SINGAPORE | 7:50 AM - 5:00 AM* 07:50 - 05:00 | 7:40 AM 07:40 |
Sunday Pre-Open at 5:40 PM ET and Open at 5:50 PM ET; Closed on Saturday.
Codes
- Clearing Admin Name
- O-UK Base Greg
- Physical
- UBL
- Logical
- UBL
- GMI (FC)
- Z4
- ION A.C.N.
- Symbol Code
- UBL