it says those days were options...most likely they were blocked, the last time a future traded was December 31st
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Just FYI... ICE do have listed "Heat Rate Spreads" that you can execute as spreads and they will give you underlying positions in the power contract and Henry Hub. As far as I know these contracts do not and have not traded on screen in a long time though. When they were initially launched several years ago though they did actually trade on screen. Of course back then they were legally OTC contracts and required you to be a ECP under the CEA.
A simple google search for "ICE Heat Rate Spread" will yield documents from both ICE and Trading Technologies explaining the (rather complicated) methodology for determining the quantity of Natural Gas on the Gas leg for each 50MW of power. (Remember your trading a Heat Rate not a Spark Spread).
With regards to Power in general, as previously mentioned by others, ICE is the place to go in order to trade on-screen rather than Globex, but even there liquidity is less than OTC.
A simple google search for "ICE Heat Rate Spread" will yield documents from both ICE and Trading Technologies explaining the (rather complicated) methodology for determining the quantity of Natural Gas on the Gas leg for each 50MW of power. (Remember your trading a Heat Rate not a Spark Spread).
With regards to Power in general, as previously mentioned by others, ICE is the place to go in order to trade on-screen rather than Globex, but even there liquidity is less than OTC.
So if there is less liquidity on screen, it is reasonable to assume that one cannot get better prices on screen than via OTC.
this is what I thought, even If you traded power on web-ice, you would be able to get the open interest and electronic data from their website, but not tick data....and when I looked on the ice web-site it was very clear that there was very lil volume going through.
when I spoke to market professionals, they all told me the samething you confirmed..but believing what was posted here, I went on a wild goose chase to find the electronic contract so I can trade it myself.
tks for clearing it up..
Great post. And, just to clarify, you are referring to an ICE exchange-supported spread versus the act of the trader manually via broker and/or electronically on the screen legging into and out of a heat rate spread using financially cleared Power and Nat Gas Swap contracts. I agree that the ICE heat rate exchange supported spread did not trade much to speak of for a number of reasons.
