| ERCOT West 345 kV Hub 5 MW Off-Peak Futures | |||||
|---|---|---|---|---|---|
| Product Symbol | CME Globex: AO1 CME ClearPort: O1 Open Outcry: O1 |
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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 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT) | ||||
| Contract Unit | 5 Megawatts hours (MWh) | ||||
| Price Quotation | The contract quantity shall be 5 Megawatt hours (MWh). Transaction sizes for trading any contract month shall be restricted to whole number multiples of the number of off-peak hours in the contract month. Each futures contract shall be valued as the contract quantity multiplied by the settlement price. | ||||
| Minimum Fluctuation | $0.01 | ||||
| Floating Price | The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) West 345 kV Hub real-time settlement point off-peak prices provided for the contract month. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 289.09 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 | 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 consecutive month | ||||
| Settlement Type | Financial | ||||
| Final Settlement | Delivery under the ERCOT West 345 kV Hub 5 MW Off-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 will be the Floating Price calculated for each contract month. | ||||
| Off Peak Hours & Off Peak Days | Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0600 and 2300 and 2400 Central Prevailing Time (CPT) and Saturday through Sunday HE 0100-2400 CPT including North American Electric Reliability Corporation holidays. | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 289 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||