Nasdaq Commodities lists base load and peak load futures contracts for trading.
Settlement of futures contracts involves both a daily mark-to-market settlement and a final spot reference cash settlement, after the contract reaches its expiry date.
Mark-to-market settlement covers profit or loss from day-to-day changes in the daily closing price of each contract.
Final settlement, which begins at delivery, covers the difference between the final closing price of the futures contract and the system price in the delivery period. Throughout the final settlement period, which starts on the expiry date, the member is credited/debited an amount equal to the difference between the spot market price and the futures contracts final closing price.
|Nordic Power||Price Area||No of days||No of weeks|
|Reference||Nordic system price|
|German Power||Price Area||No of days||No of weeks|
|Reference||Average of the hourly prices from the day-ahead auction for the German and Austrian price zones|