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European Power

European Power Offering

Nasdaq offers trading and clearing of a pan European suite of financial power derivatives, comprising of German, Dutch, Belgian, French, Italian and Spanish Monthly DS Futures contracts. 

  • Continuous trading in the electronic trading system from 08.00 to 18.00 CET (07:00-17:00 GMT)
  • Trading and clearing of block trades from 07:45 until 19.00 CET (06:00-18:00 GMT)
  • European Trading Calendar

Why Monthly DS Futures

Today, the majority of European Power and Gas contracts are traded bilaterally as physical contracts with monthly cash flows during the delivery period. Nasdaq Commodities’ Monthly DS Futures are tailor made derivatives matching the exact same cash flow as the physical contracts, hence offering a great tool for mitigating risk of energy purchases and sales in the physical market.

Contract Lifecycle

Settlement Structure

Power Monthly DS Futures

Currency

Settlement date

  • German
     
  • French
     
  • Dutch
     
  • Belgian
     
  • Spanish
     
  • Italian                                           
  • EUR
     
  • EUR
     
  • EUR
     
  • EUR
     
  • EUR
     
  • EUR 
  • The 20th calendar day of following month or next business day
  • The 20th calendar day of following month or next business day
  • The 20th calendar day of following month or next business day
  • The 20th calendar day of following month or next business day
  • The 20th calendar day of following month or next business day
  • The 20th calendar day of following month or next business day
     

Quotation List

Monthly DS Futures  

No of

Days

 No of

WDW

No of

Weekend

No of

Weeks

No of

Months

No of

Quarters

No of

Years

 

HB

BL

PK

OP

BL

PK

OP

BL

PK

OP

BL

PK

OP

BL

PK

OP

BL

PK

OP

BL

PK

OP

EDEM

5

9

9

9

2

 

2

3

2

2

4

4

4

6

6

6

4

4

4

3

3

3

EFRM

5

9

9

9

2

 

2

3

2

2

4

4

4

6

6

6

4

4

4

3

3

3

ENLM

 

9

9

9

2

 

2

3

2

2

4

4

4

6

6

6

4

4

4

3

3

3

EBEM

 

9

9

9

2

 

2

3

2

2

4

4

4

6

6

6

4

4

4

3

3

3

EITM

 

9

 

 

2

 

 

3

 

 

4

 

 

6

 

 

4

 

 

3

 

 

EESM       

 

9

 

 

2

 

 

3

 

 

4

 

 

6

 

 

4

 

 

3

 

 

Contract Size

1 MWh

Trade Lot

1 MW

Tick Size

EUR 0,01

Contract Base

 

 

 

WDW= Working Day Week

  • Germany: EPEX Day-Ahead Auction

  • France: EPX  Day-Ahead Auction

  • Netherlands: APX  Day-Ahead Auction

  • Belgium: BELPEX Day-Ahead Hourly Prices

  • Italy: GME Day-Ahead Market

  • Spain: OMIE Day-Ahead Auction

Clearing of Monthly DS Futures

Nasdaq offers clearing of financially settled Monthly DS Futures through Nasdaq Clearing.

Nasdaq Clearing is the contractual counterparty in all contracts traded at Nasdaq Commodites' financial market. Clearing guarantees the financial settlement. The daily settlement is automatic, and members are connected to the settlement system through a variety of multinational settlement banks. Read more >>

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