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

Contract Unit 80 Megawatt hours (MWh) (5 MW per peak hour).
Price Quotation The contract quantity shall be 80 Megawatt Hours (MWH) and is based on 5 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 contract 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: AL1
CME ClearPort: L1
Clearing: L1
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 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 Trading shall cease on the last business day of the month before the contract month.  At that time, a position in the PJM Western Hub Peak Calendar-Month Real-Time LMP Futures (L1) contract will be converted to a strip of PJM Western Hub Real-Time Peak Calendar-Day 5 MW Futures (Clearing Code JD/CME Globex Code JDL).
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 PJM Western Hub Peak Calendar-Month Real-Time LMP Futures 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 176
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing