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Ontario Peak Calendar-Month Futures Contract Specs

Contract Unit 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 month. 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: OMM
CME ClearPort: OPM
Clearing: OPM
Listed Contracts 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 Method Deliverable
Floating Price The Floating Price for each contract month 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 month. For settlement of this contract, the prices provided by IESO will be considered final on the payment date stated in Rule 960.10 and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex shall cease at 23:59 local time of the independent system operator/regional transmission organization on the last calendar day of the month preceding the contract month. 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 last calendar day of the month preceding the contract month.
CME ClearPort: Trading shall cease the last business day of the 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 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 960
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing