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PJM Northern Illinois Hub  Day-Ahead Off-Peak Calendar-Day 5 MW Futures Contract Specs

Product Symbol CME Globex: POL
CME ClearPort: PNO
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 Size The contract quantity shall be 5 Megawatts Hours (MWh). Transaction sizes for trading in any contract day shall be restricted to whole number multiples of the number of off-peak hours in the contract day. The contract quantity is adjusted to reflect the transition in and out of Daylight Savings Time. (On CME Globex, lot size needs to be in multiples of 10 to achieve the 50 MW clip size)
Price Quotation $/MWH
Minimum Fluctuation $0.05 per MWH
Floating Price The Floating Price for each contract day will be equal to the arithmetic average of the PJM Northern Illinois Hub Day-Ahead LMP for off-peak hours provided by PJM Interconnection, LLC (PJM), for the contract day. For settlement of this contract, the prices provided by PJM will be considered final on the Payment Date and will not be subject to any further adjustment.
Termination of Trading Trading shall cease on the business day prior to the contract day.
Listed Contracts Current month and next full month
Settlement Type Financial
Final Settlement Final settlement under the contract shall be by cash settlement. Final settlement, following termination of trading for a contract day, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract day.
Peak/Off Peak Days Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) and Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation holidays.
Peak/Off Peak Hours
Rulebook Chapter 957
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX

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