Futures & Options Volumes at 1,518% of Daily Underlying System Demand, 19 November 2009
Fri 20 Nov 2009
Record daily volumes with a total of 4,509 contracts registered on 19 November 2009.
With the 2010 option expiry and soaring temperatures in the physical electricity market on 19 November 2009, the d-cypha ASX Australian Electricity Futures and Options market reached a record for daily volumes with a total of 4,509 contracts registered, which is equivalent to 9,865,530 MWh or the annual output of a 1,000MW power station with a capacity factor of 89%.
This new record exceeds the previous record set on 19th November last year with 3,021 contracts by 1,488 contracts or 3,280,332 MWh.
Registered contract volume for November 2009 equated to 41,751,156 MWh with a face value of approximately $1.9 billion. The face value traded on 19 November 2009 was approx $440 million.
Month to date, the registered contract volume represented 402% of the underlying National Electricity Market (NEM) physical electricity demand. For 19 November 2009 the registered contract volume represented 1,518% of the daily NEM physical electricity demand, which was 649,579 MWh.
Year to date liquidity in the d-cypha ASX Australian Electricity Futures and Options market has soared to an average of 172% underlying NEM physical system demand compared to 152% for the entire calendar year 2008.
Such strong liquidity and market depth in the d-cypha ASX Australian Electricity Futures and Options market enables retailers and generators alike to hedge their exposure to the half hourly regional reference price in the NEM without exposing themselves to OTC market counterparty default risk.