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PJM Western Hub 50 MW Peak Calendar-Month Real-Time LMP Futures Contract Specs

Contract Unit 800 megawatt hours (50 mm per hour).
Price Quotation The contract quantity shall be 800 Megawatt hours (MWh) and is based on 50 megawatts for peak daily hours. Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of peak days 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: A4S
CME ClearPort: 4S
Clearing: 4S
Listed Contracts All months through and including December 2015.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the PJM Western Hub Real-Time LMP for peak hours provided by PJM Interconnection, LLC (PJM) for the contract month. 
Termination Of Trading CME Globex: Trading on CME Globex shall cease at 23:59 local time of the independent system operator/regional transmission organization on the last calendar day of the month preceding the contract month. If that time is not within CME Globex regular trading hours, trading on CME Globex shall cease at the normal termination time (i.e., 16:15 CT) on the nearest business day on or before the last calendar day of the month preceding the contract month.
CME ClearPort: Trading shall cease one business day prior to the last peak day of the contract month.
Days Or Hours “Peak day” shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT
Settlement Procedures Delivery under the PJM Western Hub 50 MW Peak Calendar-Month Real-Time 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 178
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