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ISO New England Mass Hub Day-Ahead Peak Calendar-Month 2.5 MW Futures Contract Specs

Contract Unit 40 Megawatt hours (MWh) (2.5 MW per peak hour).
Price Quotation The contract quantity is based on 2.5 megawatts per hour for each peak hour of the contract month. The daily total is 40 Megawatt Hours (MWH). One contract shall equal the daily total multiplied by the number of peak days in the contract month. Each futures contract shall be valued as the contract quantity multiplied by the settlement price.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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)
Minimum Price Fluctuation $0.05 per MWh
Product Code CME Globex: NIL
CME ClearPort: NI
Open Outcry: NI
Clearing: NI
Listed Contracts CME Globex: 36 consecutive months
CME ClearPort and Open Ouctry: 72 consecutive months
DEFAULT All months through and including December 2017.
Settlement Method Financially Settled
Floating Price The Floating Price will be determined for each contract month. The Floating Price will be equal to the arithmetic average of the hourly day-ahead Locational Marginal Prices (LMP) for ISO New England (ISO-NE) Internal Hub, ISO-NE Location I.D. 4000, published by ISO-NE for all peak hours in the contract month. For settlement of this contract, the prices provided by ISO-NE will be considered final on the payment day stated in Rule 756.10 and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex shall cease on the last business day of the month prior to the contract month.
CME ClearPort and Open Ouctry: Trading shall cease on the last business day of the contract month.
Days Or Hours "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT.
Settlement Procedures Delivery under the 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.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 756
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing