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PJM Northern Illinois Hub Real-Time Off-Peak Calendar-Month 5 MW 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: B6L
CME ClearPort: B6
Clearing: B6
Listed Contracts Current year plus next five years
Settlement Method Deliverable
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 Northern Illinois Hub Real-Time 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 895.09 and will not be subject to any further adjustment.
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 PJM Northern Illinois Hub Real-Time Off-Peak Calendar-Day 5 MW Futures will cascade into a strip of Alberta Power Pool Extended Off-Peak Calendar-Day Futures (Clearing Code NOC/CME Globex Code NOI).
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 Northern Illinois Hub Real-Time Off-Peak Calendar-Month 5 MW 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 895
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing