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ISO New England Maine Zone 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures Contract Specs

Product Symbol CME Globex: AW2
CME ClearPort: W2
Open Outcry: W2
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 5 Megawatts hours (MWh)
Price Quotation The contract quantity shall be 5 Megawatts Hours (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 ISO New England Maine Zone Day-Ahead LMP provided by ISO New England for all off-peak hours in the contract month. For settlement of this contract, the prices provided by ISO New England will be considered final on the payment day stated in Rule 598.09 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 Ouctry: 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 ISO New England Maine Zone 5MW Off-Peak Calendar-Month Day-Ahead LMP Swap 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) 0100-0700 and 2400 Eastern Prevailing Time (EPT) Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation Holidays.
Position Limits NYMEX Position Limits
Rulebook Chapter 598
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.