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PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Month 5 MW Futures Contract Specs

Product Symbol

CME Globex: R7L
CME ClearPort/Open Outcry: R7

Venue CME Globex, CME ClearPort, 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 5 megawatts hours (MWh)
Price Quotation The contract quantity shall be 5 megawatts hours (MWh).  Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Minimum Fluctuation $0.05 per MWh
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the PJM AEP Dayton Hub Day-Ahead LMP for off-peak hours provided by PJM Interconnection, LLC (PJM) for the contract month.
Termination of Trading Trading shall cease on the second to last business day of the month preceding the contract month. At the termination of trading, positions in the PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Month 5 MW Futures (Clearing Code R7/CME Globex Code R7L) will cascade into a strip of PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures (Clearing Code PEO/CME Globex Code PEL).
Listed Contracts CME Globex: 36 consecutive months
CME ClearPort and Open Ouctry: 72 consecutive months
Settlement Type Financial
Final Settlement  Not applicable. At the termination of trading, positions in the PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Month 5 MW Futures (Clearing Code R7/CME Globex Code R7L) will cascade into a strip of PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures (Clearing Code PEO/CME Globex Code PEL).
Off Peak Hours & Off Peak Days 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 157
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.