Options on 1st Quarter Peak Futures Contracts
Options over the 1st Quarter Peak Futures Contracts: 1 Megawatt of electrical energy per hour on a Peak Period profile for the respective States (NSW, QLD, VIC and SA) over the duration of a Contract Quarter.
These contract specifications must be read in conjunction with the ASX 24 Operating Rules and ASIC Market Integrity Rules (ASX 24 Market). In addition, please see the Energy Market Policy for further details.
 | Options Expiration Dates 2013 - 2015 | PDF, 14Kb |
1 Megawatt of electrical energy per hour on a Peak Period profile for the respective States (NSW, QLD, VIC and SA) over the duration of a Contract Quarter.
Options available on futures for the March Quarter up to three years ahead.
PN = Peak Period NSW
PV = Peak Period VIC
PQ = Peak Period QLD
PS = Peak Period SA
Quoted in Australian Dollars per Megawatt hour. The minimum price fluctuation is $0.01 per MWh.
Q1 Peak Period Options are set at intervals of $5.00 per MWh. New option exercise prices created as the underlying futures contract price moves.
Options will cease trading at 12:00pm on the Last Trading Day. The Last Trading Day shall be the day 6 weeks prior to the day immediately preceding the commencement of the calendar quarter for the underlying Futures Contract. If this day is not a business day or is recognised in NSW, QLD, VIC or SA as a Public Holiday then the following business day will be the expiry day. ASX will publish expiry dates in advance of new contracts being listed.
9.00am - 4.00pm*
Options may be exercised on any business day up to and including the day of expiry. In-the-money options are not automatically exercised at expiry. Buyers may exercise in, at and out-of-the-money option positions held, by lodging a notice of manual exercise with ASX Clear (Futures) no later than 1:30pm on the day of expiry. Upon exercise, the holder will receive a futures position at the option strike price. The Option Settlement Price will be determined on the day of expiry by taking the mean of the underlying futures quotes (the mid-point of the bid and offer in the underlying futures contract) at 11.45am, 11.50am, 11.55am and 12pm rounded up.
*Unless otherwise stated, all times are Sydney times.