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CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Real-Time LMP Futures Contract Specs

Product Symbol CME Globex: 2JW
CME ClearPort: 2J
Open Outcry: 2J
Venue CME Globex, CME ClearPort and Open Outcry (New York)
(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 5 Megawatts hours (MWh)
Price Quotation The contract quantity shall be 5 Megawatts hours (MWh). Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of off-peak hours in the month.
Minimum Fluctuation $0.01 per MWh
Floating Price A Daily Floating Price will be determined for the off-peak day. The Floating Price will be equal to the arithmetic average of the hourly real-time Locational Marginal Prices (LMP) for NP15 EZ Gen Hub provided by the California ISO (CAISO) for the off-peak day. For settlement of this contract, the prices provided by CAISO will be considered final on the payment day stated in Rule 270.09 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 peak day. When the peak day is not a business day, trading shall cease on the previous business day.
Listed Contracts CME Globex: All days in the current month and the following calendar month
CME ClearPort and Open Outcry: Current month and next full month
Settlement Type Financial
Final Settlement Delivery under the contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.
Off Peak Hours & Off Peak Days Off-Peak shall mean Monday through Saturday Hour Ending (HE) 0100-0600 and 2300 through 2400 Pacific Prevailing Time (PPT) and Sunday HE 0100-2400 PPT including North American Electric Reliability Corporation holidays.
Position Limits NYMEX Position Limits
Rulebook Chapter 270
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.