ICE German Power Financial Base

German Power Financial Base Futures	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid 	German Grid 	German Grid
Contract Symbol 	GAB 	GAB 	GAB
Trading Period 	Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. 	Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. 	Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip.
Expiration Date 	Month contracts will cease trading at the close of business one Business Day prior to the last calendar day of the contract delivery period.
Quarter and year contracts will cease trading at the close of business two Business Days prior to the first calendar day of the delivery quarter or year. 	Month contracts will cease trading at the close of business one Business Day prior to the last calendar day of the contract delivery period.
Quarter and year contracts will cease trading at the close of business two Business Days prior to the first calendar day of the delivery quarter or year. 	Month contracts will cease trading at the close of business one Business Day prior to the last calendar day of the contract delivery period.
Quarter and year contracts will cease trading at the close of business two Business Days prior to the first calendar day of the delivery quarter or year.
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday. 	Open 08:00, Close 18:00 (CET), Monday – Friday. 	Open 08:00, Close 18:00 (CET), Monday – Friday.
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Minimum Price Fluctuation 	1 Euro Cent per MWh (€0.01/MWh) 	1 Euro Cent per MWh (€0.01/MWh) 	1 Euro Cent per MWh (€0.01/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Settlement Price 	The cash settlement price of the contract is equal to the arithmetic mean of the price of each hour between 00:00 am and 24:00 of all days throughout the contract delivery period for the German Day-Ahead auction comprising the control area operated by Amprion GmbH 	The cash settlement price of the contract is equal to the arithmetic mean of the price of each hour between 00:00 am and 24:00 of all days throughout the contract delivery period for the German Day-Ahead auction comprising the control area operated by Amprion GmbH 	The cash settlement price of the contract is equal to the arithmetic mean of the price of each hour between 00:00 am and 24:00 of all days throughout the contract delivery period for the German Day-Ahead auction comprising the control area operated by Amprion GmbH
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Initial Margin 	Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest. 	Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest. 	Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin 	All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate. 	All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate. 	All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate.
Cash Settlement Obligations 	In respect to each lot (1 MW) the following payments shall be made:
Where the Cash Settlement Price
(i) exceeds the contract price, payment by the Seller to the Clearing House;
(ii) exceeds the contract price, payment by the Clearing House to the Buyer;
(iii) is less than the contract price, payment by the Clearing House to the Seller;
(iv) is less than the contract price, payment by the Buyer to the Clearing House,
of an amount calculated by multiplying the difference between the Cash Settlement Price and the contract price by the number of hours in the day (23, 24 or 25).
Where the Cash Settlement Price is equal to the contract price, no payments shall be made between the Seller (or Buyer) and the Clearing House
The applicable contract price is the applied settlement price to the open position at the latest marked-to-market. For the position resulting from the transactions executed on the last settlement date, the contract price is the transaction price.	In respect to each lot (1 MW) the following payments shall be made:
Where the Cash Settlement Price
(i) exceeds the contract price, payment by the Seller to the Clearing House;
(ii) exceeds the contract price, payment by the Clearing House to the Buyer;
(iii) is less than the contract price, payment by the Clearing House to the Seller;
(iv) is less than the contract price, payment by the Buyer to the Clearing House,
of an amount calculated by multiplying the difference between the Cash Settlement Price and the contract price by the number of hours in the day (23, 24 or 25).
Where the Cash Settlement Price is equal to the contract price, no payments shall be made between the Seller (or Buyer) and the Clearing House
The applicable contract price is the applied settlement price to the open position at the latest marked-to-market. For the position resulting from the transactions executed on the last settlement date, the contract price is the transaction price.	In respect to each lot (1 MW) the following payments shall be made:
Where the Cash Settlement Price
(i) exceeds the contract price, payment by the Seller to the Clearing House;
(ii) exceeds the contract price, payment by the Clearing House to the Buyer;
(iii) is less than the contract price, payment by the Clearing House to the Seller;
(iv) is less than the contract price, payment by the Buyer to the Clearing House,
of an amount calculated by multiplying the difference between the Cash Settlement Price and the contract price by the number of hours in the day (23, 24 or 25).
Where the Cash Settlement Price is equal to the contract price, no payments shall be made between the Seller (or Buyer) and the Clearing House
The applicable contract price is the applied settlement price to the open position at the latest marked-to-market. For the position resulting from the transactions executed on the last settlement date, the contract price is the transaction price.
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GAB 	GAB
Codes 	Logical 	GAB 	GAB
Codes 	GMI (FC) 	AM 	AM
Codes 	ION A.C.N. 	None 	None
German Power Financial Base Options	German Power Financial Base Options 	German Power Financial Base Options 	German Power Financial Base Options
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid 	German Grid 	German Grid
Contract Symbol 	GAB 	GAB 	GAB
Trading Period 	Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. 	Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. 	Up to 156 consecutive month contracts, or as otherwise determined by the Exchange. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip.
Expiration Date 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the contract month.
Trading of the January contract will cease on the 3rd Thursday in December. If that day is a non-business day, expiry will occur on the nearest prior business day	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the contract month.
Trading of the January contract will cease on the 3rd Thursday in December. If that day is a non-business day, expiry will occur on the nearest prior business day	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the contract month.
Trading of the January contract will cease on the 3rd Thursday in December. If that day is a non-business day, expiry will occur on the nearest prior business day
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Strike Price Increments 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	None
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	None
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	None
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GAB 	GAB
Codes 	Logical 	GAB 	GAB
Codes 	GMI (FC) 	AM 	AM
Codes 	ION A.C.N. 	None 	None
German Power Financial Base 1x Cal Options	German Power Financial Base 1x Cal Options 	German Power Financial Base 1x Cal Options 	German Power Financial Base 1x Cal Options
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid 1x Cal 	German Grid 1x Cal 	German Grid 1x Cal
Contract Symbol 	GXC 	GXC 	GXC
Trading Period 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time.
Expiration Date 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), on the 2nd Thursday in the December month preceding the contract period. If that day is a non-business day, expiry will occur on the nearest prior business day, except where that day is also the expiry date of the underlying futures contract, in which case expiry will occur on the preceding business day.	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), on the 2nd Thursday in the December month preceding the contract period. If that day is a non-business day, expiry will occur on the nearest prior business day, except where that day is also the expiry date of the underlying futures contract, in which case expiry will occur on the preceding business day.	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), on the 2nd Thursday in the December month preceding the contract period. If that day is a non-business day, expiry will occur on the nearest prior business day, except where that day is also the expiry date of the underlying futures contract, in which case expiry will occur on the preceding business day.
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Strike Price Increments 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate. 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate. 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option. 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option. 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GXC 	GXC
Codes 	Logical 	GXC 	GXC
Codes 	GMI (FC) 	GC 	GC
Codes 	ION A.C.N. 	None 	None
German Power Financial Base 1x Qtr Options	German Power Financial Base 1x Qtr Options 	German Power Financial Base 1x Qtr Options 	German Power Financial Base 1x Qtr Options
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid 1x Qtr 	German Grid 1x Qtr 	German Grid 1x Qtr
Contract Symbol 	GXQ 	GXQ 	GXQ
Trading Period 	Up to 12 consecutive quarter contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 12 consecutive quarter contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 12 consecutive quarter contracts or as otherwise determined and announced by ICE Endex from time to time.
Expiration Date 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the contract period.
Trading of the Q1 contract will cease on the 3rd Thursday in the December month preceding the contract period. If that day is a non-business day, expiry will occur on the nearest prior business day.	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the contract period.
Trading of the Q1 contract will cease on the 3rd Thursday in the December month preceding the contract period. If that day is a non-business day, expiry will occur on the nearest prior business day.	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the contract period.
Trading of the Q1 contract will cease on the 3rd Thursday in the December month preceding the contract period. If that day is a non-business day, expiry will occur on the nearest prior business day.
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Strike Price Increments 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GXQ 	GXQ
Codes 	Logical 	GXQ 	GXQ
Codes 	GMI (FC) 	GQ 	GQ
Codes 	ION A.C.N. 	None 	None
German Power Financial Base Early (Q1) 1x Cal Options	German Power Financial Base Early (Q1) 1x Cal Options 	German Power Financial Base Early (Q1) 1x Cal Options 	German Power Financial Base Early (Q1) 1x Cal Options
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid Early (Q1) 1x Cal 	German Grid Early (Q1) 1x Cal 	German Grid Early (Q1) 1x Cal
Contract Symbol 	GX1 	GX1 	GX1
Trading Period 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time.
Expiration Date 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the April month preceding the contract period. 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the April month preceding the contract period. 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the April month preceding the contract period.
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Strike Price Increments 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GX1 	GX1
Codes 	Logical 	GX1 	GX1
Codes 	GMI (FC) 	G1 	G1
Codes 	ION A.C.N. 	None 	None
German Power Financial Base Early (Q2) 1x Cal Options	German Power Financial Base Early (Q2) 1x Cal Options 	German Power Financial Base Early (Q2) 1x Cal Options 	German Power Financial Base Early (Q2) 1x Cal Options
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid Early (Q2) 1x Cal 	German Grid Early (Q2) 1x Cal 	German Grid Early (Q2) 1x Cal
Contract Symbol 	GX2 	GX2 	GX2
Trading Period 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time.
Expiration Date 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the July month preceding the contract period. 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the July month preceding the contract period. 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the July month preceding the contract period.
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Strike Price Increments 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GX2 	GX2
Codes 	Logical 	GX2 	GX2
Codes 	GMI (FC) 	G2 	G2
Codes 	ION A.C.N. 	None 	None
German Power Financial Base Early (Q3) 1x Cal Options	German Power Financial Base Early (Q3) 1x Cal Options 	German Power Financial Base Early (Q3) 1x Cal Options 	German Power Financial Base Early (Q3) 1x Cal Options
Trading Screen Product Name 	German Power Financial Base Futures 	German Power Financial Base Futures 	German Power Financial Base Futures
Trading Screen Hub Name 	German Grid Early (Q3) 1x Cal 	German Grid Early (Q3) 1x Cal 	German Grid Early (Q3) 1x Cal
Contract Symbol 	GX3 	GX3 	GX3
Trading Period 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time. 	Up to 3 consecutive year contracts or as otherwise determined and announced by ICE Endex from time to time.
Expiration Date 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the October month preceding the contract period. 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the October month preceding the contract period. 	Trading will cease when the intraday reference price is set, approximately 14:00 CET (as specified in the Operating Time Schedule - Appendix B.1), four business days before the start of the October month preceding the contract period.
Contract Security 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe (ICEU) acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Endex contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Hours 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday 	Open 08:00, Close 18:00 (CET), Monday – Friday
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1 MW 	1 MW 	1 MW
Contract Size 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time). 	1 MW per day in the contract period (i.e. month, quarter or year) x 23, 24 or 25 hours (summer or winter time).
Minimum Trading Size 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS) 	1 lot = 1 MW (Electronic Futures, EFP, EFS)
Minimum Block Order 	1 lot = 1 MW 	1 lot = 1 MW 	1 lot = 1 MW
Quotation 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh. 	The contract price is in Euros and Euro cents per MWh.
Strike Price Increments 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh 	Strike Range is 5.00 - 50.00 Euros per MWh
Strike Price Increments are Multiples of 0.01 Euros per MWh
Minimum Price Fluctuation 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh) 	0.1 Euro Cent per MWh (€0.001/MWh)
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Position Limit 	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to ICE Endex on a daily basis. ICE Endex has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate Members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into a corresponding German Power Financial Base Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money.
At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
MIC Code 	NDEX 	NDEX 	NDEX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	German Pwr Fin 	German Pwr Fin
Codes 	Physical 	GX3 	GX3
Codes 	Logical 	GX3 	GX3
Codes 	GMI (FC) 	G3 	G3
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE German Power Financial Base Product Spec
ICE German Power Financial Base Options Product Spec
Category:Sponsored Pages
Category:Sponsored Pages - ICE
Category:Reserved Pages
Category:Reserved Pages - ICE
Category:Electricity Futures Contracts
Category:Futures Contracts Traded on ICE
Category:Energy Futures Contracts
Category:Futures Data in Template