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PJM Peak Calendar-Month LMP Swap Futures
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PJM Peak Calendar-Month LMP Swap Futures
Product Symbol JM
Venue CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 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 40 Megawatt hours (MWh) (2.5 MW per peak hour).
Price Quotation The contract quantity is based on a flow of 2.5 Mega-watt Hours (MWH) per hour for each peak hour of the contract month. The daily flow is 40 MWH. One contract shall equal the daily flow multiplied by the number of peak days remaining in the contract month not including the current business day.
Minimum Fluctuation $0.05
Floating Price A Daily Floating Price will be determined for each peak day of each contract month. Each Daily Floating Price will be equal to the arithmetic average of the PJM Western Hub Real Time LMP for peak hours provided by PJM Interconnection, LLC for the peak day. For settlement of this contract, the prices provided by PJM will be considered final with the cash settlement stated in Rule 635.07.
and will not be subject to any further adjustment.
Termination of Trading Trading shall cease one business day prior to the last peak day of the contract month.
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 Type Financial
Final Settlement Delivery under the NYMEX PJM Calendar-Month LMP Swap contract shall be by cash settlement.
Cash Settlement will take place in accordance with the following.Starting with the close of trading on the peak day prior to the contract month, the daily flow (equal
to 40 MWH) corresponding to the following peak day is subtracted from the quantity of each contract every business day until contract termination. The subtracted quantity is cash-settled based on the Daily Floating Price for the corresponding peak day.For peak days that are not also business days, subtraction of the daily flow corresponding to the peak day will take place on the business day immediately following this (these) day(s).
Peak Days “Peak day” shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.
Peak Hours From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT
Position Limits NYMEX Position Limits
Rulebook Chapter 635
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.