New Product Contract Specifications & Other Useful Information
Fri 12 Apr 2013
d-cyphaTrade and the ASX will launch Base Load Calendar Month Electricity Futures (EN, EV, EQ, ES) and Financial-Year Strip Options over Base Load Calendar Quarter Electricity Futures (HN, HV, HQ, HS) at 09:00am on Wednesday 8th May 2013 for Trade Date 8th May 2013.
Contract specifications for the new contracts are here.
Base Load Month Calendar Hours can be downloaded here.
Initial Margin rates and Intra and Inter-commodity offsets is available here.
Clearing Participant information including Account and Limit Maintenance for the new products is available in ASX Notice No. 077/13 - Month Futures and ASX Notice No. 076/13 - Financial Year Strip Options.
Product code information can be found on the d-cyphaTrade Website. Data vendor codes for vendor systems will be published here on the ASX website Australian Electricity Futures page once these codes have been provided.
1. d-cyphaTrade ASX Base Load Calendar Month Futures
Contract Unit: One (1) Megawatt (MW) of electrical energy per hour during the base load profile bought and sold in a region of the Wholesale Electricity Pool Market conducted by the Australian Energy Market Operator (AEMO), or its successor.
Contract Months: January, February, March, April, May, June, July, August, September, October, November, December up to 6 months ahead.
Commodity Code: EN (New South Wales), EV (Victoria), EQ (Queensland), ES (South Australia). Click here for further product code information.
Type of Contract: Cash Settled
Listing Date: 8 May 2013 (the first contract month will be a June 2013)
Minimum Price Movement: $0.01 per Megawatt hour
Tick Size: Tick size under a $0.01/MWh price fluctuation:
- A 672 MWh contract month has a tick size of $6.72;
- A 696 MWh contract month has a tick size of $6.96;
- A 720 MWh contract month has a tick size of $7.20;
- A 744 MWh contract month has a tick size of $7.44.
Last Trading Day: The last Business Day of the contract month
Settlement Day: The fourth Business Day following the Last Trading Day (T+4)
Trading Hours: 9:00am-4:00pm
Settlement Price: Arithmetic average of all base load half hourly spot prices over the contract period to 2dp, provided by AEMO.
Block Trade: Yes (Exchange fee + Registration Fee of $30.00 per leg per side)
EFP: Yes
Exchange Fees: $13.00 (plus GST) per side per contract
2. d-cyphaTrade ASX Financial Year Strip Options over Base Load Calendar Quarter Electricity Futures
Contract Unit: An Option over a strip of four Australian Base Load Calendar Quarter Electricity Futures Contracts.
Contract Months: June up to 4 Financial Years ahead delivering into September, December, March and June futures positions.
Commodity Code: HN (New South Wales), HV (Victoria), HQ (Queensland), HS (South Australia)
Listing Date: 8 May 2013 (the first contract month will be a June 2015)
Minimum Price Movement: $0.01
Strike Interval: $1.00
Last Trading Day: The day which is six (6) weeks prior to the day immediately preceding the commencement of the first Contract quarter of the underlying strip. If that day is not a Business Day then the Business Day following that day.
Trading Hours: 9:00am-4:00pm
Exercise Methodology On the Declaration Date, the Approved Clearing Facility shall, unless otherwise directed by a Deny Automatic Exercise Request, exercise all in-the-money Options.
Reference Price for Option Exercise: 12:00 noon using the previous Business Day's Daily Settlement Prices of the underlying Australian Base Load Electricity Futures Contracts in the strip, as determined by the Exchange.
Time for lodgement of an Exercise Request: 12:30pm
Exchange Fees: $74.00 (plus GST) per side per contract.
 | Monthly Base Hours 2013 | PDF, 10Kb |