Join the Exchange

Understanding Contract Expiry

SettlementExpiryERCOTPJM

What happens at expiry and exactly how settlement prices are calculated for ERCOT (15-min SPP average) and PJM (next-day verified LMPs).

Product Releases

EXI 101 — Onboarding & Platform

Getting Started
Required Documentation
Account Structure & Roles
Funding, Withdrawals, & Fees
Platform Access
FAQ: Onboarding
Navigating the Platform
Order Book Trading 101
Placing Your First Order
Order Types & Time in Force
Legger Widget Guide
Book Depth Visibility & Sweeping
How Bounded Futures Work
FIX API Guide
How Binary Options Work
Contract Expiry & Settlement
Collateral Guide

Reference

Glossary of Terms
Product Specifications Index

Training Videos

Training Videos
Video 1 — Logging In for the First Time
Video 2 — Navigating the Platform
Video 3 — Placing Your First Order
Video 4 — Using the CSV Bulk Order Upload
Video 5 — Canceling and Replacing Orders
Video 6 — Understanding Your Collateral
Video 7 — How Bounded Futures Work
Video 8 — How Binary Options Work
Video 9 — Understanding Contract Expiry
Video 10 — Getting Help Within the Platform

Quant

The Quant Case for Power

Power Fundamentals & Hedging

PJM: Beyond Western Hub
Dominion Zone: Data Center Alley

Insights

Why TB2 Is a Bad Fit for Batteries
MISO Tests Its Load Record With a Thinner Cushion
CAISO's Battery Hangover
4CP Is an Hourly Problem
Two RTO Records, Opposite Implications
PJM Called the DOE
PJM on the Verge of Back-to-Back May Load Records
Spring on the Wholesale Grid Isn't Quiet Anymore
When Peak and Off-Peak Stop Describing the Risk
Solar & Wind Farm
Battery Storage Operator
Data Center & Bitcoin Miner

Content contained herein is for informational and educational purposes only, provided on an “AS IS” and “AS AVAILABLE” basis, and does not constitute investment, trading, tax, or legal advice, nor a recommendation or solicitation to buy or sell any contract. All content is based on publicly available information and is not derived from any nonpublic order, position, or participant data. Trading involves substantial risk of loss and is not suitable for all persons. Historical price behavior and volatility, including the market data discussed herein, are not indicative of future results. Any trading scenarios provided herein are hypothetical and for illustrative purposes only. They do not reflect actual trading results and are not based on any participant’s actual positions. Hypothetical results have inherent limitations — they are generally prepared with the benefit of hindsight, do not involve real financial risk, and there are frequently sharp differences between hypothetical results and results actually achieved. No representation is made that any participant account will achieve profits or losses. You should independently evaluate whether trading is appropriate for you and consult your own advisors before making any trading decision. For ElectronX’s full risk disclosures, refer to electronx.com/risk-disclosure.

Join the Exchange