Page 129 - PRIAA Glossary

PAYMENT DATE
The date on which a dividend, interest or other cash flow is scheduled.
PAYREC
A payment matching and netting service provided by Deriv/ SERV for over-the-counter (OTC) derivative transaction payments that cannot be settled through Deriv/SERV’s Trade Information Warehouse.
PEAKLOAD CONTRACT
A contract for delivery of power at a constant rate over a specified time period, for example 1/2 hour, 1 hour, 4 hours, 6 hours or 12 hours. Peakload contracts are used for periods of higher demand above baseload.
PHYSICAL ELECTRICITY INDEX (PHELIX)
A reference price for power in Germany and other parts of central Europe. Phelix is the hourly weighted average daily and monthly spot prices of base load and peak load power traded on the European Energy Exchange (EEX), German and Austrian market areas.
PHYSICAL SETTLEMENT
The meeting of a settlement obligation under a derivative contract through the receipt or delivery of the actual underlying instead of through cash settlement.
PHYSICAL SETTLEMENT DATE
The date or time frame upon which physical settlement occurs.
PIP
The smallest price unit of a commodity or currency. This is an acronym for percentage point.
PIT
An area on the trading floor of some exchanges where trading in a future or option contract is conducted. A trade pit is usually a feature of an open outcry exchange.
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