News Release

CME Group Announces the Launch of Clearing Services for 18 New Electricity Swap Futures

Thu Jun 04 2009

CHICAGO, June 4 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of clearing services for 18 new, financially-settled, electricity swap futures contracts through CME ClearPort®, a set of flexible clearing services open to over the counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes. Beginning on June 14 for trade date June 15, 16 ERCOT and two Midwest ISO swap futures contracts will be listed for trading by NYMEX through CME ClearPort, and are subject to NYMEX rules and regulations.

 

The new contracts and their commodity codes are:

 

  • ERCOT Houston Zone MCPE 50 MW Peak Swap Futures (2N)
  • ERCOT Houston Zone MCPE 50 MW Off-Peak Swap Futures (2W)
  • ERCOT Houston Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2S)
  • ERCOT Houston Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3E)
  • ERCOT North Zone MCPE 50 MW Peak Swap Futures (2P)
  • ERCOT North Zone MCPE 50 MW Off-Peak Swap Futures (2X)
  • ERCOT North Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2T)
  • ERCOT North Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3F)
  • ERCOT South Zone MCPE 50 MW Peak Swap Futures (2Q)
  • ERCOT South Zone MCPE 50 MW Off-Peak Swap Futures (2Y)
  • ERCOT South Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2U)
  • ERCOT South Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3H)
  • ERCOT West Zone MCPE 50 MW Peak Swap Futures (2R)
  • ERCOT West Zone MCPE 50 MW Off-Peak Swap Futures (3D)
  • ERCOT West Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2V)
  • ERCOT West Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3J)
  • Midwest ISO Illinois Hub 5 MW Peak Calendar-Month Day-Ahead LMP Swap Futures (4Q)
  • Midwest ISO Illinois Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Swap Futures (4R)

     

 

 

 

The ERCOT peak contracts will be 800 megawatt hours in size, and the ERCOT off-peak contracts will be 50 megawatt hours. The minimum price fluctuation will be $0.01.

 

The Midwest ISO peak contracts will be 80 megawatt hours in size, and the Midwest ISO off-peak contracts will be 5 megawatt hours. The minimum price fluctuation will be $0.05.

 

The first listed month for these contracts will be July 2009. Monthly contracts will be listed for the current year plus the next five calendar years, consecutively. A new calendar year will be added following the termination of trading in the December contract of the current year. The daily contracts will be listed for the current month plus the next month.

 

For more information, please visit www.cmegroup.com/clearport.

 

CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."

 

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.

CME-G

SOURCE: CME Group

Web site: http://www.cme.com/

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