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PJM Eastern Hub Off-Peak Calendar-Month Day-Ahead LMP Futures Contract Specs

Contract Unit 5 Megawatts hours (MWh)
Price Quotation The contract quantity shall be 5 Megawatts hours (MWh). Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of off-peak hours in the month.
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 $0.05 per MWh
Product Code CME Globex: AF4
CME ClearPort: F4
Clearing: F4
Listed Contracts The current year plus the next five calendar years. A new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price will be determined for each contract month. The Floating Price will be equal to the arithmetic average of the PJM Eastern Hub Day-Ahead LMP provided by PJM Interconnection, LLC (PJM) for all off-peak hours in the contract month. For settlement of this contract, the prices provided by PJM will be considered final on the payment day stated in Rule 165.09 and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex shall cease on the last business day of the month prior to the contract month.
CME ClearPort: Trading shall cease on the last business day of the contract month.
Days Or 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.
Settlement Procedures Delivery under the PJM Eastern Hub Off-Peak Calendar-Month Day-Ahead LMP Futures 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 165
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing