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NYISO Zone J Day-Ahead Peak Calendar-Month 5 MW Futures Contract Specs

Product Symbol CME Globex: D3L
CME ClearPort/Open Outcry:D3
Venue CME Globex, CME ClearPort, 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 80 Megawatt hours (MWh) (5 MW per peak hour).
Price Quotation The contract quantity shall be 80 Megawatt Hours (MWH) and is based on 5 megawatts for peak daily hours. Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of peak days in the contract month.
Minimum Fluctuation $0.05
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the NYISO Zone J Day-Ahead LBMP for peak hours provided by New York Independent Systems Operator (NYISO) for the contract month. For settlement of this contract, the prices provided by NYISO will be considered final on the payment date stated in Rule 906.10 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.
Listed Contracts CME Globex: 36 consecutive months
CME ClearPort and Open Ouctry: 72 consecutive months
Settlement Type Financial
Final Settlement Delivery under the NYISO Zone J Day-Ahead Peak Calendar-Month 5 MW 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.
Peak Days “Peak day” shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.
Peak Hours From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT
Position Limits NYMEX Position Limits
Rulebook Chapter 906
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.