Phelix Short Dated Options
Options on Phelix Baseload Year Futures are traded with four expiry dates. These are based on the terms of quarter options. The following maturities are offered for an option on 2013 Baseload Year Futures: end of March, end of June, end of September and mid of December 2012. Regardless of the different maturities, the corresponding futures position of the underlying asset is booked upon exercising of the option.
Last trading day | Expiry Date
| In December: | The second Thursday in December of the current year |
| In March: | 4 exchange trading days before the end of the quarter |
In June: | 4 exchange trading days before the end of the quarter |
| In September: | 4 exchange trading days before the end of the quarter |
Maturity Phelix Year Options
At a glance | ||
| Contract | Option on corresponding Phelix Future | |
| Maturities | The next 3 or 4 years, expiry at the end of March, June and September respectively, as in the case of Phelix Quarter Options and in December as in the case of Phelix Year Options | |
| Settlement | Cash settlement | |
| Trading hours | On every exchange trading day from 8:00 am to 6:00 pm (CET) Registration of OTC transactions from 8:00 am to 6:00 pm (CET) | |
| Tick size | EUR 0.01 per MWh | |
| Transaction fees | Option premium-based price model: Option premium for exchange and OTC clearing Option premium < EUR 0.15 per MWh EUR 0.00125 per MWh Option premium ≥ EUR 0.15 per MWh EUR 0.0025 per MWh | + Clearing fee: EUR 0.00125 per MWh EUR 0.0025 per MWh + Exercise fee: EUR 0.005 per MWh |
