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

Contract Unit 5 Megawatts hours (MWh)
Price Quotation The contract quantity shall be 5 Megawatts hours (MWh). Transaction sizes for trading in any contract day shall be restricted to whole number multiples of the number of off-peak hours in the contract day. Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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)
Minimum Price Fluctuation $0.01 per MWh
Product Code CME Globex: 2JW
CME ClearPort: 2J
Clearing: 2J
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
DEFAULT Current month and next full month
Settlement Method Financially Settled
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.
Days Or Hours 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.
Settlement Procedures 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.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 270
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing