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Dow Jones Mead/Marketplace Electricity Price Index 5 MW Peak Futures
| Dow Jones Mead/Marketplace Electricity Price Index 5 MW Peak Futures | |||||
|---|---|---|---|---|---|
| Product Symbol | CME Globex: DMB CME ClearPort: DMP Open Outcry: DMP |
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| 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 | 80 Megawatt hours (MWh) (5 MW per peak hour). | ||||
| Price Quotation | The contract quantity shall be 80 megawatt hours (MWH) and is based on 5 megawatts (MW) for Peak Hours. Each futures contract shall be valued at the contract quantity multiplied by the final settlement price (as per Rule 760.08). Transaction sizes for trading in any contract month shall be restricted to whole number multiples of the number of Peak Days in the month. | ||||
| Minimum Fluctuation | $0.05 | ||||
| Floating Price | The "Floating Price" will be determined for each contract month as follows: The Floating Price will be equal to the arithmetic average of all daily prices in the contract month of the Dow Jones Mead/Marketplace Electricity Price IndexSM (the "Index"), as published by CME Group Index Services LLC, for Firm Energy traded during Peak Hours (each as defined in Rule 760.03) (the "Firm On-peak Index"). The Firm On-peak Index averages together blocks of power sold in bilateral, wholesale, physical transactions for power on a day-ahead pre-scheduled basis, and does not include real-time power. Transactions included in the Firm On-peak Index are limited to power traded in 16-hour blocks during Peak Hours. Transactions are quoted in dollars per megawatt hour ($/MWH). The daily price of the Firm On-peak Index corresponds to transactions for power delivered on such date. |
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| Termination of Trading | Trading shall cease on the last business day of the contract month. | ||||
| Listed Contracts | CME ClearPort and Open Outcry: | 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 | |||
| CME Globex: | 1 month | ||||
| Settlement Type | Financial | ||||
| Final Settlement | Delivery under the Dow Jones Mead/Marketplace Electricity Price Index 5 MW Peak Futures contract shall be by cash settlement. Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price for a contract month will be the Floating Price as calculated for that contract month. | ||||
| Peak Days | “Peak Days” shall mean Monday through Saturday, excluding North American Electric Reliability Corporation (NERC) holidays. (Note that, although Firm On-peak Index daily prices are published for Sundays, Sundays are not included within the meaning of “Peak Days” for the purposes of the contract or in the calculation of the average of Peak Day daily prices and in the determination of permitted transaction sizes.) “Firm Energy” shall meet minimum criteria of being financially firm and backed with liquidated damages. |
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| Peak Hours | “Peak Hours” shall mean the Hours Ending (HE) 0700-2200 Prevailing Pacific Time, on Peak Days | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 760 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||
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