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MISO Indiana Hub (formerly Cinergy Hub) Day-Ahead Off-Peak Calendar-Month 5 MW Futures Contract Specs

Product Symbol CME Globex: K2L
CME ClearPort/Open Outcry: K2
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 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit

The contract quantity shall be 5 MWh.

Each futures contract shall be valued at the contract quantity multiplied by the settlement price.

Price Quotation

The contract quantity shall be 5 MWh. Each futures contract shall be valued at the contract quantity multiplied by the settlement price.

Each futures contract shall be valued at the contract quantity multiplied by the settlement price.

Minimum Fluctuation $0.05 per MWh
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the MISO Indiana Hub (formerly Cinergy Hub) Day-Ahead LMP provided by Midcontinent Independent System Operator, Inc. (MISO) for all off-peak hours in the contract month.
Termination of Trading Trading shall cease on the second to last business day of the month preceding the contract month. At the termination of trading, positions in the MISO Indiana Hub (formerly Cinergy Hub) Day-Ahead Off-Peak Calendar-Month 5 MW Futures (Clearing Code K2/CME Globex Code K2L) will cascade into a strip of MISO Indiana Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures (Clearing Code FAD/CME Globex Code FAL).
Listed Contracts CME Globex: 36 consecutive months
CME ClearPort and Open Ouctry: Current year plus next five years
Settlement Type Financial
Final Settlement Not applicable. At the termination of trading, positions in the MISO Indiana Hub (formerly Cinergy Hub) Day-Ahead Off-Peak Calendar-Month 5 MW Futures (Clearing Code K2/CME Globex Code K2L) will cascade into a strip of MISO Indiana Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures (Clearing Code FAD/CME Globex Code FAL).
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 893
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.