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Ontario Peak Calendar-Day Futures Contract Specs

Contract Unit The contract quantity shall be 80 Megawatt hours (MWh) and is based on 5 Megawatts for peak daily hours.  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.
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 CAD 0.05 per MWh
Product Code CME Globex: OPO
CME ClearPort: OPD
Clearing: OPD
Listed Contracts CME Globex: 1 month
CME ClearPort: Current month plus the next month.
DEFAULT Current month plus the next month.
Settlement Method Financially Settled
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 964.10 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: Trading shall cease on the business day that is the peak day. When the peak day is not a business day, trading shall cease on the previous business day.
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 contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 964
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing