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Italian Power Baseload (GME) Calendar Month Future Contract Specs

Contract Unit The Contract size shall be 1 MWh per hour for each Baseload Day in the Contract Month. A Baseload Day consists of all hours from 00:00 to 23:59 Central European Time each calendar day in the Contract Month. Adjustments will be made to the number of MWhs for leap years and daylight savings time to reflect the total number of hours in a Contract Month.
Price Quotation Euro per MWh
Trading Hours Sunday - Friday 23:00 hours - 22:00 hours London time. Friday close at 22:00 hours and reopens at 23:00 hours London time on Sunday.
Minimum Price Fluctuation Quoted in multiples of 0.01 Euro per MWh (equivalent to between €6.72 and €7.45 per lot)
Product Code CME Globex: IPB
CME ClearPort: IPB
Clearing: IPB
Listed Contracts Monthly contracts shall be listed for the current calendar year and the next 2 consecutive calendar years.
Settlement Method Financially Settled
Termination Of Trading Trading shall cease on the first London business day immediately preceding the last calendar day of the contract month.
Settlement Procedures Settlement prices established at 18:00 hours London time

The Floating Price for each Contract Month is based on the hourly PUN Index GME determined for each Baseload Day during the Contract Month, commencing at, and including, the 00:00-01:00 hours auction and ending with, and including, the 23:00-24:00 hours auction for each Baseload Day. The Floating Price shall be the arithmetic average of all such hourly prices in respect of each Baseload Day in the Contract Month.
Exchange Rulebook CME Europe Limited Contract Module Chapter BF03
Block Minimum Five (5) lots
Vendor Codes Quote Vendor Symbols Listing