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CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead 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 delivery month shall be restricted to whole number multiples of the number of off-peak hours in the month. 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. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.01 per MWh
Product Code CME Globex: DAX
CME ClearPort: 5X
Clearing: 5X
Listed Contracts The current year plus the next five calendar years. A new calendar year will be added following the termination of trading in the December contract of the current year
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the SP15 EZ Gen Hub Day-Ahead LMP for all off-peak hours provided by California ISO (CAISO) for the contract month. For settlement of this contract, the prices provided by CAISO will be considered final on the payment date stated in Rule 345.09 and will not be subject to any further adjustment.
Termination Of Trading Trading terminates on the second to last business day of the month before the contract month. At that time, a position in CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures (5X) converts to a strip of CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP Futures (4Z) in the originally specified contract month. For example, in a 28-day month with 288 off-peak hours and no transition in or out of Daylight Savings Time, a position of 288 CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures (5X) converts at the termination of trading to a position of eight (8) CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP F

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