The Phelix Future is a financial futures contract which refers to Spot Market prices for power – more specifically to the EEX Index Phelix – of future delivery periods. On the EEX Derivatives Market, Phelix Futures are traded for the current month, the next 6 months, 7 quarters and 6 years. Base load and peak load futures are traded. The underlying security is either the Phelix Base Load or the Phelix Peak Load.

Phelix – “Physical Electricity Index“
The Phelix Base Load is the average of all prices of the hourly auction on the Spot Market of EEX for the German/Austrian market area. The Phelix Peak Load Index takes the hourly prices of the peak load times (08:00 am until 08:00 pm) from Monday until Friday into account.

Function
The Phelix forms the link between the Phelix Future and the physical Spot Market. The connection of the Phelix Future to
the Phelix also facilitates hedging of existing power price risks with the help of this financial futures contract.

Trading in Phelix Futures with an exchange membership
An admission to trade on the Derivatives Market is required for direct participation in exchange trading in Phelix Futures.

Trading in Phelix Futures without an exchange membership
Brokers and clearing banks offer simple access to participation in trading on the exchange without an exchange membership.
A complete list of the clearing banks and brokers is available at this link.

Advantages of Phelix Futures

• Highly liquid trading in Phelix Futures
• Hedging of prices for the future (with a time horizon of up to 6 years into the future)
• Secure and professional settlement of the transactions

Contract Specifications