The CDE is the platform where financial electricity derivatives contracts, concluded on IDEX, are executed. IDEX is the derivatives segment of Borsa Italiana S.p.A. where financial electricity derivatives are traded. The contracts executed on CDE are those for which the Participant has requested to exercise the option of physical delivery of the underlying electricity in the Electricity Market (ME). All ME Participants are automatically admitted to the CDE. However, only Participants holding an electricity account on the Electricity Account Registration Platform (PCE) may request physical delivery in the ME.
The Participant may exercise the option of physical delivery in the ME of the electricity underlying the financial contracts concluded on IDEX, those having a monthly delivery period, on the information systems of Borsa Italiana and CC&G in accordance with the procedures and within the time limits defined in the respective Rules.
Physical delivery takes place by registering an electricity purchase/sale transaction, of which GME becomes the counterparty. The transaction, having a sign corresponding to the delivered contracts, is registered on the electricity accounts that the Participant holds on the PCE.