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ERCOT North Competitive Load Zone Day-Ahead 5 MW Peak Calendar-Day Swap Futures
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ERCOT North Competitive Load Zone Day-Ahead 5 MW Peak Calendar-Day Swap Futures
Product Symbol ERC
Venue CME ClearPort and Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 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
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) North Competitive Load Zone 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 1027.10 and will not be subject to any further adjustment.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts Current month and next full month
Settlement Type Financial
Final Settlement Delivery under the ERCOT North Competitive Load Zone Day-Ahead 5 MW Peak Calendar-Day Swap 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 1027
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.