Asset Class Navigation

Ontario Off-Peak Calendar-Day Futures Contract Specs

Product Symbol CME Globex: OOD
CME ClearPort: OFD
Open Outcry: OFD
Venue CME Globex, CME ClearPort and Open Outcry (New York)
(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 Megawatt hours (MWh). Transaction sizes for trading in any contract day shall be restricted to whole number multiples of the number of off-peak hours in the contract day. Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Price Quotation Prices shall be quoted in Canadian dollars and cents per MWH
Minimum Fluctuation CAD 0.05 per MWh.
Floating Price The Floating Price for each contract day will be equal to the arithmetic average of the hourly Ontario energy price as determined by the Ontario Independent Electricity System Operator (IESO) for all peak hours for the contract day. For settlement of this contract, the prices provided by IESO will be considered final on the payment date stated in Rule 965.09 and will not be subject to any further adjustment.
Termination of Trading CME Globex: Trading on CME Globex will terminate at 23:59 local time of the independent system operator/regional transmission organization on the calendar day that is the contract day. 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 contract day.
CME ClearPort and Open Outcry: Trading shall cease on the business day that is the off-peak day. When the off-peak day is not a business day, trading shall cease on the previous business day.
Listed Contracts Every day for 2 consecutive months.
Settlement Type Financial
Final Settlement Delivery under the contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.
Days & Hours 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 965
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.