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

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.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.05 per MWh
Product Code CME Globex: D3L
CME ClearPort: D3
Clearing: D3
Listed Contracts The current year plus the next five years. 
Settlement Method Deliverable
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 Trading terminates on the second to last business day of the month before the contract month. At that time, a position in NYISO Zone J Day-Ahead Peak Calendar-Month 5 MW Futures (D3) converts to a strip ofNYISO Zone J Day-Ahead Peak Calendar-Day 5 MW Futures (JN) in the originally specified contract month. For example, in a twenty-two (22) peak-day month, a position of twenty-two (22) NYISO Zone J Day-Ahead Peak Calendar-Month 5 MW Futures (D3) converts at the termination of trading to a position of one (1) NYISO Zone J Day-Ahead Peak Calendar-Day 5 MW Futures (JN) per peak day in the originally specified 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 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.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 906
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing