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Alberta Power Pool Off-Peak Calendar-Day Futures Contract Specs

Product Symbol CME Globex: LAF
CME ClearPort: ALF
Open Outcry: ALF
Venue CME Globex, CME ClearPort and Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit The contract quantity shall be 5 Megawatt hours (MWh). Transaction sizes for trading in any contract day shall be restricted to whole number of off-peak hours in the contract day. The contract quantity will be adjusted by the transition in and out of the Daylight Savings Time. Each futures contract shall be valued as the contract quantity multiplied by the settlement price.
Price Quotation Prices shall be quoted in Canadian dollars and cents per MWH
Minimum Fluctuation CAD 0.01 per MWh.
Floating Price The Floating Price for each contract day will be equal to the arithmetic average of all Alberta Power Pool Hourly Index prices provided for the contract day. For settlement of this contract, the prices provided by Alberta Electric System Operator will be considered final on the payment date stated in Rule 874.10 and will not be subject to any further adjustment.
Termination of Trading CME Globex: Trading on CME Globex will terminate at 23:59 local time of the independent system operator/regional transmission organization on the calendar day that is the contract day. If that time is not within CME Globex regular trading hours, trading on CME Globex shall cease at the normal termination time (i.e., 16:15 CT) on the nearest business day on or before the contract day.
CME ClearPort and Open Outcry: Trading shall cease on the business day that is the off-peak day. When the off-peak day is not a business day, trading shall cease on the previous business day.
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: Current month plus the next month
Settlement Type Financial
Final Settlement Delivery under the Alberta Power Pool Off-Peak Calendar-Day Futures contract shall be by cash settlement. Final settlement, following termination of trading for a contract day, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract day.
Days & Hours "Days & Hours" shall mean mean a Monday through Saturday Hour Ending 0100 through 0700 and 2400 Mountain Prevailing Time (MPT), Sunday, including North American Electric Reliability Corporation holidays.
Position Limits NYMEX Position Limits
Rulebook Chapter 874
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.