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Ontario Off-Peak Calendar-Month Futures Contract Specs

Product Symbol CME Globex: OFF
CME ClearPort: OFM
Open Outcry: OFM
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 The contract quantity shall be 5 megawatts hours (MWh). 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 month will be equal to the arithmetic average of the hourly Ontario energy prices provided by the Ontario Independent Electricity System Operator (IESO) for all off-peak hours in the contract month.
Termination of Trading Trading shall cease on the last business day of the month preceding the contract month. At the termination of trading, positions in the Ontario Off-Peak Calendar-Month Futures (Clearing Code OFM/CME Globex Code OFF) will cascade into a strip of Ontario Off-Peak Calendar-Day Futures (Clearing Code OFD/CME Globex Code OOD).
Listed Contracts CME Globex: 36 consecutive months
CME ClearPort and Open Ouctry: Current year plus the next four calendar years with a new calendar year added following the termination of trading in the December contract month of the current year.
Settlement Type Financial
Final Settlement Not applicable. At the termination of trading, positions in the Ontario Off-Peak Calendar-Month Futures (Clearing Code OFM/CME Globex Code OFF) will cascade into a strip of Ontario Off-Peak Calendar-Day Futures (Clearing Code OFD/CME Globex Code OOD).
Days & Hours Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) and Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation Holidays.
Position Limits NYMEX Position Limits
Rulebook Chapter 961
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.