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Italian Power Baseload (GME) Calendar Month Futures Contract Specs

Contract Unit 1 MW  (24 MWh)
1 MW x 24 hours = 24 MWh
Clears in multiples of calendar days in the contract month.
Price Quotation Euro per MWh
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation €0.01 x 1 MW x 24 hours x # calendar days/month
Product Code CME Globex: ITB
CME ClearPort: ITB
Clearing: ITB
Listed Contracts Monthly contracts listed for the current year and the next 2 calendar years.  Add monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price 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.
Termination Of Trading Trading terminates at 12:00 noon Italy local time on the U.S. business day prior to the last calendar day of the contract month.
Days Or Hours Baseload refers to every hour of the day for every day of the contract month.

Adjustments will be made to the number of MWhs for Daylight Savings Time to reflect the total number of hours in each calendar month. The range is from 672 to 745 MWh.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1072
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing