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MISO Illinois Hub 5 MW Off-Peak Calendar-Month Day-Ahead Futures Contract Specs

Product Symbol CME Globex: A4R
CME ClearPort: 4R
Open Outcry: 4R
Venue CME Globex, CME ClearPort and Open Outcry
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 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit The contract quantity shall be 5 Megawatts hours (MWh). Transaction sizes for trading in any contract month shall be restricted to whole number multiples of the number of off-peak hours in the contract month. The contract quantity is not adjusted to reflect the transition in and out of Daylight Savings Time. Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Price Quotation The contract quantity shall be 5 MWH. Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of off-peak hours in the month.

Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Minimum Fluctuation $0.05
Floating Price The Floating Price will be determined for each contract month. The Floating Price will be equal to the arithmetic average of the Midwest ISO Illinois Hub Day-Ahead LMP provided by Midwest Independent Transmission System Operator, Inc. (MISO) for all off-peak hours in the contract month. For settlement of this contract, the prices provided by MISO will be considered final on the payment date stated in Rule 185.09 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 Outcry: Trading shall cease on the last business day of the contract month.
Listed Contracts CME Globex: 36 consecutive months
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.
Settlement Type Financial
Final Settlement Delivery under the MISO Illinois Hub 5 MW Off-Peak Calendar-Month Day-Ahead 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 Hours shall mean the hours ending 0100 through 0700 and 2400 Eastern Standard Time (EST), Monday through Friday (except when Daylight Savings Time is in effect, in which case Off- Peak Hours means the hours ending 0100 through 0600 and 2300 through 2400 EST) and the hours ending 0100 through 2400 EST, Saturday and Sunday, including North American Electric Reliability Corporation holidays.
Position Limits NYMEX Position Limits
Rulebook Chapter 185
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.