News Release

CME Group Announces the Launch of Three New NYISO Swap Options Contracts

Tue Aug 11 2009





CHICAGO, Aug. 11 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for three new NYISO five megawatt (MW) peak calendar month day-ahead LBMP swap options contracts. Trading will be available on the New York trading floor, and clearing services will be available through CME ClearPort®, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes, beginning on August 23 for trade date August 24. These contracts are listed by NYMEX, and are subject to NYMEX rules and regulations.


These options contracts enhance our current suite of East Coast regional electricity risk management products, providing useful hedging tools for commercial and other financial traders.


The new American style swap options and their commodity codes will be: NYISO Zone A five MW peak calendar month day-ahead LBMP (9T); NYISO Zone G five MW peak calendar month day-ahead LBMP (9U); and NYISO Zone J five MW peak calendar month day-ahead LBMP (9V).


The contracts will be 80 megawatt hours with a minimum price fluctuation of $0.01 per megawatt hour. Beginning with September 2009, monthly contracts will be listed for the balance of current year plus three additional calendar years. There will be 20 strike prices in increments of $.50 per megawatt hour above and below the at-the-money strike price, for a total of at least 41 strike prices.


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As the world's largest and most diverse derivatives marketplace, CME Group ( is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.


The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at








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