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ISO New England Internal Hub Peak LMP Option on Calendar Futures Strip
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Type
 
ISO New England Internal Hub Peak LMP Option on Calendar Futures Strip
Underlying Futures ISO New England Internal Hub Peak LMP Swap Futures (NI)
Product Symbol NEL
Venue CME ClearPort, 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 12 consecutive underlying futures contracts. (January through December)
Price Quotation U.S. dollars and cents per MWh
Option Style European (Exercise only on expiration)
Minimum Fluctuation $0.01 per MWh
Expiration of Trading 2nd to last Friday of the month prior to the delivery month of the first underlying month of the ISO New England Internal Hub Peak LMP Swap Futures in the strip.
Listed Contracts Nearest 5 calendar years
Strike Prices Five strike prices in increments of $.50 per MWh above and below the at-the-money strike price for a total of at least 11 strike prices. Strike price boundaries are adjusted according to futures price movements.
Settlement Type Execise into Futures
Position Limits NYMEX Position Limits
Rulebook Chapter 407
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.