Common use of ENERGY DERIVATIVES SECTION Clause in Contracts

ENERGY DERIVATIVES SECTION. “ENERGY FUTURES” The daily settlement price for energy futures shall be determined on the basis of the average contract prices or the best bid/ask quotations observed on the Market during a significant trading period or on the basis of the average contract prices or the best bid/ask quotations of similar instruments in the relevant markets. AGRICULTURAL COMMODITY DERIVATIVES SECTION “FUTURES” ON AGRICULTURAL COMMODITIES The daily settlement price for futures on agricultural commodities shall be determined on the basis of the quantity-weighted-average contract prices or the best bid/ask quotations observed on the Mmarket during a significant trading period.