55 East 52nd Street

New York, New York 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-19

February 21, 2023

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Amendments to Final Payment Day for Certain Financial Power Futures and Related 

Amendments

Submission Pursuant to Section 5c(c)(1) of the Act and Regulation 40.6(a)

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended, and Commission 

Regulation 40.6(a), ICE Futures U.S., Inc. (“Exchange”) self-certifies amendments to Subchapter B to 

Chapter 18 of the Exchange Rulebook. Specifically, the amendments extend the Final Payment Day in the 

terms and conditions of certain Financial Power futures contracts. The amendments increase the time 

period after the contracts’ Last Trading Day until the Final Payment Day for the SPP North Real-Time 

Peak Daily Fixed Price Future (18.B.302), SPP North Real-Time Off-Peak Daily Fixed Price Future

(18.B.303), SPP South Hub Real-Time Peak Daily Fixed Price Future (18.B.253), SPP South Hub RealTime Off-Peak Daily Fixed Price Future (18.B.254), ISO New England Massachusetts Hub Real-Time 

Off-Peak Daily Fixed Price Future (18.B.384), and ISO New England Massachusetts Hub Real-Time Peak 

Daily Fixed Price Future (18.B.232), so as to ensure that all prices provided by the underlying price 

reporter are received by the Exchange prior to Final Payment Day. For the contracts referencing Southwest 

Power Pool (SPP), Contract Periods that fall on a Business Day where the following calendar day is also 

a Business Day, the amendments extend the Final Payment Day from four Business Days to seven 

Business Days following the Last Trade Date. For all other Contract Periods of such contracts, the 

amendments extend the Final Payment Day from five Business Days to eight Business Days following 

the Last Trade Date. 

For the ISO New England Massachusetts Hub Real-Time Peak Daily Fixed Price Future, Contract 

Periods that fall on a Business Day where the following calendar day is also a Business Day, the 

amendments extend the Final Payment Day from one Business Day to six Business Days following the 

Last Trade Date. For all other Contract Periods of such contracts, the amendments extend the Final 
Payment Day from two Business Days to seven Business Days following the Last Trade Date. For the 

ISO New England Massachusetts Hub Real-Time Off-Peak Daily Fixed Price Future, the amendments 

extend the Final Payment date from three Business Days to six Business Days after the Last Trading Day. 

All other aspects of the applicable products’ terms and conditions remain unchanged. The applicable 

contracts currently have no open interest.

Certifications

The rule amendments to the futures contracts’ terms and conditions and Exchange rulebook will 

become effective on March 8, 2023, or such other date as the Exchange shall determine which shall be no 

sooner than the first business day following the tenth business day following submission to the 

Commission. The Exchange has reviewed the designated contract market core principles ("Core 

Principles") as set forth in the Act and has determined that the amendments comply with the following 

relevant Core Principles: 

COMPLIANCE WITH RULES

The terms and conditions of the applicable Financial Power futures contracts are set forth in 

Subchapter B of Chapter 18 of the Exchange Rulebook, and will be enforced by the Exchange. In 

addition, trading of the contracts continues to be subject to all relevant Exchange rules which are 

enforced by the Market Regulation Department. 

AVAILABILITY OF GENERAL INFORMATION

The amended terms and conditions of the applicable Financial Power futures contracts will be 

available on the Exchange’s website for public view.

CONTRACTS NOT READILY SUBJECT TO MANIPULATION

The applicable Financial Power futures contracts are not readily subject to manipulation as they 

are based on established and liquid underlying cash markets. In addition, trading of the contracts 

continues to be monitored by the Market Regulation Department. 

FINANCIAL INTEGRITY OF CONTRACTS

The applicable Financial Power futures contracts will continue to be cleared by ICE Clear Europe, 

a registered derivatives clearing organization subject to Commission regulation, and carried by 

registered futures commission merchants qualified to handle customer business. 

The Exchange is not aware of any opposing views and certifies that the amendments to the terms 

and conditions to the applicable Financial Power products, comply with the requirements of the Act and 

the rules and regulations promulgated thereunder. 

The Exchange further certifies that, concurrent with this filing, a copy of this submission was 

posted on the Exchange’s website, which may be accessed at (https://www.theice.com/futuresus/regulation). If you have any questions or need further information, please contact me at 312-836-6745

or at patrick.swartzer@ice.com.

Sincerely,
Patrick Swartzer

Director

Market Regulation

Enc.

cc: Division of Market Oversight

New York Regional Office
Exhibit A

(In the text of the amendments below, additions are shown underscored 

and deletions are lined through.)

18.B.302 SPP North Real-Time Peak Daily Fixed Price Future

Contract Description: A daily cash settled Exchange Futures Contract based upon the mathematical 

average of peak hourly prices published by SPP for the location specified in Reference Price A. 

Contract Symbol: SPW

Settlement Method: Cash settlement

Contract Size: 800 MWh

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one cent ($0.01) per MWh; 

minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: Up to 45 consecutive daily Contract Periods, or as otherwise determined by the 

Exchange

Last Trading Day: For Monday through Friday Contract Periods, excluding NERC holidays, if the 

following calendar day is a Business Day, the Business Day following the Contract Period with a 

closing time of 10:00pm CPT the night before; If the following calendar day is not a Business Day, the 

Business Day equal to the Contract Period with a closing time equal to the end of the Trading Session;

For each Saturday, Sunday, and NERC holiday Contract Period, the last Business Day prior to the 

Contract Period with a closing time equal to the end of the Trading Session.

Final Settlement: Reference Price A 

Reference Price A: ELECTRICITY-SPP-NORTH HUB-REAL TIME

a) Description: "ELECTRICITY-SPP-NORTH HUB-REAL TIME " means that the price for a 

Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the 

Delivery Date, stated in U.S. Dollars, published by the SPP at 

https://marketplace.spp.org/web/guest/lmp-by-location under the headings "Marketplace Portal " 

or any successor headings, that reports prices effective on that Pricing Date.

b) Pricing Date: Each day that price are reported for the Delivery Date

c) Specified Price: Average of LMPs for all hours ending 0700-2200 CPT

d) Pricing calendar: SPP
e) Delivery Date: Contract period

Final Payment Date: For Contract Periods that fall on a Business Day where the following calendar 

day is also a Business Day, [four]seven Business Days following the Last Trade Date; for all other 

Contract Periods, [five]eight Business Days following the Last Trade Date.
18.B.303 SPP North Real-Time Off-Peak Daily Fixed Price Future

Contract Description: A daily cash settled Exchange Futures Contract based upon the mathematical 

average of off-peak hourly prices published by SPP for the location specified in Reference Price A. 

Contract Symbol: SPX

Settlement Method: Cash settlement

Contract Size: 50 MWh

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one cent ($0.01) per MWh; 

minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: Up to 45 consecutive daily Contract Periods, or as otherwise determined by the 

Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement: Reference Price A 

Reference Price A: ELECTRICITY-SPP-NORTH HUB-REAL TIME

a) Description: "ELECTRICITY-SPP-NORTH HUB-REAL TIME " means that the price for a 

Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the 

Delivery Date, stated in U.S. Dollars, published by the SPP at 

https://marketplace.spp.org/web/guest/lmp-by-location under the headings "Marketplace Portal " 

or any successor headings, that reports prices effective on that Pricing Date.

b) Pricing Date: Each day that price are reported for the Delivery Date

c) Specified Price: Average of LMPs for all hours 0100-0600, 2300-2400 CPT

d) Pricing calendar: SPP

e) Delivery Date: Contract period

Final Payment Date: For Contract Periods that fall on a Business Day where the following calendar 

day is also a Business Day, [four]seven Business Days following the Last Trade Date; for all other 

Contract Periods, [five]eight Business Days following the Last Trade Date.
18.B.253 SPP South Hub Real-Time Peak Daily Fixed Price Future

Contract Description: A daily cash settled Exchange Futures Contract based upon the mathematical 

average of peak hourly electricity prices published by SPP for the location specified in Reference Price 

A.

Contract Symbol: SSR

Settlement Method: Cash settlement

Contract Size: 800 MWh

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one cent ($0.01) per MWh; 

minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: Up to 45 consecutive daily contract periods, or as otherwise determined by the 

Exchange

Last Trading Day: For Monday through Friday Contract Periods, excluding NERC holidays, if the 

following calendar day is a Business Day, the Business Day following the Contract Period with a 

closing time of 10:00pm CPT the night before; If the following calendar day is not a Business Day, the 

Business Day equal to the Contract Period with a closing time equal to the end of the Trading Session;

For each Saturday, Sunday, and NERC holiday Contract Period, the last Business Day prior to the 

Contract Period with a closing time equal to the end of the Trading Session.

Final Settlement: Reference Price A 

Reference Price A: ELECTRICITY-SPP-SOUTH HUB-REAL TIME

a) Description: " ELECTRICITY-SPP-SOUTH HUB-REAL TIME " means that the price for a 

Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the 

Delivery Date, stated in U.S. Dollars, published by the SPP at 

https://marketplace.spp.org/web/guest/lmp-by-location under the headings "Marketplace Portal " 

or any successor headings, that reports prices effective on that Pricing Date.

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price: Average of LMPs for all hours ending 0700-2200 CPT

d) Pricing calendar: SPP

e) Delivery Date: Contract period
Final Payment Date: For Contract Periods that fall on a Business Day where the following calendar 

day is also a Business Day, [four]seven Business Days following the Last Trade Date; for all other 

Contract Periods, [five]eight Business Days following the Last Trade Date.
18.B.254 SPP South Hub Real-Time Off-Peak Daily Fixed Price Future

Contract Description: A daily cash settled Exchange Futures Contract based upon the mathematical 

average of off-peak hourly electricity prices published by SPP for the location specified in Reference 

Price A.

Contract Symbol: SSO

Settlement Method: Cash settlement

Contract Size: 50 MWh

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one cent ($0.01) per MWh; 

minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: 38 consecutive daily contract periods, or as otherwise determined by the Exchange

Last Trading Day: The Business Day prior to the Contract Period

Final Settlement: Reference Price A 

Reference Price A: ELECTRICITY-SPP-SOUTH HUB-REAL TIME

a) Description: " ELECTRICITY-SPP-SOUTH HUB-REAL TIME " means that the price for a 

Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the 

Delivery Date, stated in U.S. Dollars, published by the SPP at 

https://marketplace.spp.org/web/guest/lmp-by-location under the headings "Marketplace Portal " 

or any successor headings, that reports prices effective on that Pricing Date.

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price: Average of LMPs for all hours, CPT, that are not ending 0700-2200 CPT

d) Pricing calendar: SPP

e) Delivery Date: Contract period

Final Payment Date: For Contract Periods that fall on a Business Day where the following calendar 

day is also a Business Day, [four]seven Business Days following the Last Trade Date; for all other 

Contract Periods, [five]eight Business Days following the Last Trade Date.
18.B.384 ISO New England Massachusetts Hub Real-Time Off-Peak Daily Fixed Price Future

Description: A daily cash settled Exchange Futures Contract based upon the mathematical average of Off-Peak 

hourly electricity prices published by ISO New England for the location specified in Reference Price A.

Contract Symbol: NOH

Settlement Method: Cash Settlement

Contract Size: 50 MWh

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one cent ($0.01) per MWh; minimum 

price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: Up to 365 consecutive daily Contract Periods, or as otherwise determined by the Exchange

Last Trading Day: The last Business Day prior to the Contract Period

Final Settlement: Reference Price A

REFERENCE PRICE A: ELECTRICITY-ISO NEW ENGLAND-MASS HUB-REAL-TIME

a) Description: "ELECTRICITY-ISO NEW ENGLAND-MASS HUB-REAL-TIME" means that the price 

for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery 

Date, stated in U.S. Dollars, published by the ISO New England at https://www.isone.com/isoexpress/web/reports/pricing/-/tree/lmps-rt-hourly-final "Hourly Real-Time LMPs: 

4000:.H.INTERNAL_HUB: " or any successor headings, that reports prices effective on that Pricing 

Date.

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price: For each Monday through Friday, excluding NERC holidays, the average of LMPs for 

all hours ending 0100-0700, 2400 EPT; for each Saturday, Sunday, and NERC holiday, the average of 

LMPs for all hours ending 0100-2400 EPT

d) Pricing calendar: ISO New England

e) Delivery Date: Contract Period
Final Payment Date: The [third]sixth Clearing Organization business day following the Last Trading Day

MIC Code: IFED

Clearing Venue: ICEU
18.B.232 ISO New England Massachusetts Hub Real-Time Peak Daily Fixed Price Future

Contract Description: A daily cash settled Exchange Futures Contract based upon the mathematical average of 

peak hourly electricity prices published by ISO New England for the location specified in Reference Price A.

Contract Symbol: NMD

Settlement Method: Cash settlement

Contract Size: 800 MWh

Currency: USD

Minimum Price Fluctuation: The price quotation convention shall be one cent ($0.01) per MWh; minimum 

price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle: Up to 365 consecutive daily contract periods, or as otherwise determined by the Exchange

Last Trading Day: For Monday through Friday Contract Periods, excluding NERC holidays, if the following 

calendar day is a Business Day, the Business Day following the Contract Period with a closing time of 11:00pm 

EPT the night before; If the following calendar day is not a Business Day, the Business Day equal to the Contract 

Period with a closing time equal to the end of the Trading Session;

For each Saturday, Sunday, and NERC holiday Contract Period, the last Business Day prior to the Contract Period 

with a closing time equal to the end of the Trading Session.

Final Settlement: Reference Price A 

REFERENCE PRICE A: ELECTRICITY-ISO NEW ENGLAND-MASS HUB-REAL TIME

a) Description: "ELECTRICITY-ISO NEW ENGLAND-MASS HUB-REAL TIME " means that the price 

for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery 

Date, stated in U.S. Dollars, published by the ISO New England at http://www.iso-ne.com/markets, under 

the headings "Hourly Data: Selectable Hourly LMP Data: 4000_:_.H.INTERNAL_HUB: Start Date/End 

Date: LMP prices for Day-ahead and Real-time: Day Ahead LMP" or any successor headings, that reports 

prices effective on that Pricing Date.

b) Pricing Date: Each day that prices are reported for the Delivery Date

c) Specified Price: Average of LMPs for all hours ending 0800-2300 EPT

d) Pricing calendar: ISO New England

e) Delivery Date: Contract period
Final Payment Date: For Contract Periods that fall on a Business Day where the following calendar day is also a 

Business Day, [one]six Business Day following the Last Trading Day; for all other Contract Periods, [two]seven

Business Days following the Last Trading Day.

[REMAINDER OF RULEBOOK UNCHANGED]