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ERCOT Houston 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Futures Contract Specs

Product Symbol CME Globex: YHF
CME ClearPort: EHF
Open Outcry: EHF
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 for peak daily hours. Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of peak days in the contract month. Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Minimum Fluctuation $0.01 per MWh
Floating Price The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Houston 345 kV Hub Day-Ahead settlement point peak prices provided for the contract day. For settlement of this contract day, the prices provided by ERCOT will be considered final on the payment date stated in Rule 1041.10 and will not be subject to any further adjustment.
Termination of Trading CME Globex: Trading on CME Globex shall cease on the business day prior to the contract day.
CME ClearPort and Open Outcry: Trading shall cease on the last business day of the contract month.
Listed Contracts Current month plus next month
Settlement Type Financial
Final Settlement Delivery under the ERCOT Houston 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.
Peak Days "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.
Peak Hours From Hour Ending (HE) 0700 Central Prevailing Time (CPT) through HE 2200 CPT.
Position Limits NYMEX Position Limits
Rulebook Chapter 1041
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.