POWER DS FUTURES
Nasdaq Commodities lists base load and peak load DS Future contracts for trading. Year contracts are cascaded (split) into quarters. Quarter contracts are cascaded into months. The remaining futures and DS Future contracts are not subject to cascading.
There is no settlement during the trading period prior to the expiry date for DS Future products. The mark-to-market amount is accumulated (but not realised) throughout the trading period as a daily loss/ profit, and realized in the delivery period.
Throughout the delivery period, starting at the expiry date, cash is required in the members' pledged / non-pledged cash accounts, and settlement throughout the delivery period is carried out in the same way as for futures. The non-pledged cash account must be supported by a bank guarantee.
|Nordic Power||Price Area||No of months||No of quarters||No of years|
|Reference||Nordic system price|
|German Power||Price Area||No of months||No of quarters||No of years|
|Reference||Average of the hourly prices from the day-ahead auction for the German and Austrian price zones|
* this year's quarters + 2 rolling years in quarters
Year contracts are cascaded three working days before delivery.