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PJM Northern Illinois Hub Real-Time Peak Calendar-Month 2.5 MW Futures Contract Specs

Contract Unit 2.5 MW multiplied by the number of peak hours in the contract month
Price Quotation The contract quantity is based on a flow of 2.5 megawatts per hour for each peak hour of the contract month. The daily flow is 40 MWh. One contract shall equal the daily flow multiplied by the number of peak days remaining in the contract month not including the current business day.
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)
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: UML
CME ClearPort: UM
Clearing: UM
Listed Contracts 36 consecutive months. The last listed month will be December 2017.
Settlement Method Financially Settled
Floating Price A Daily Floating Price will be determined for each peak day of each contract month. Each Daily Floating Price will be equal to the arithmetic average of the PJM Northern Illinois Hub Real Time LMP for peak hours provided by PJM Interconnection, LLC for the peak day. For settlement of this contract, the prices provided by PJM will be considered final with the cash settlement stated in Rule 762.07. and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex shall cease at 23:59 local time of the independent system operator/regional transmission organization on the last calendar day of the month preceding the contract month. If that time is not within CME Globex regular trading hours, trading on CME Globex shall cease at the normal termination time (i.e., 16:15 CT) on the nearest business day on or before the last calendar day of the month preceding the contract month.
CME ClearPort: Trading shall cease one business day prior to the last peak 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 NYMEX PJM Northern Illinois Hub Real-Time Peak Calendar-Month 2.5 MW Futures contract shall be by cash settlement. Beginning with the peak day prior to the beginning of the contract month, cash settlement with liquidation will be performed for a proportionate number of outstanding contracts for each position holder each day based on the number of remaining peak days in the contract month. The proportion will equal the ratio of one (1) to the number of remaining peak days. The cash settlement
price will be based on the Daily Floating Price which is determined for that day.  For peak days that are not also business days, cash-settlement will take place on the business day immediately following this (these) day(s) separately, and in chronological succession, for each such peak day up to and including the next coincident peak day and business day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 762
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing