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

Contract Unit 5 MWh
Price Quotation The contract quantity shall be 80 Megawatt hours (MWh) and is based on 5 Megawatts for peak daily hours. 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: AI3
CME ClearPort: I3
Clearing: I3
Listed Contracts Current month plus next month
Settlement Method Financially Settled
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 peak prices provided for the contract day. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 278.10 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: 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 "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0700 Central Prevailing Time (CPT) through HE 2200 CPT.
Settlement Procedures Delivery under the ERCOT Houston 345 kV Hub 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.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 278
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing