Notice to Members
Notice No. 411 10/28/2004
New York Mercantile Exchange to Launch ISO New England Internal Hub Peak LMP Swap Contract
Please be advised that the New York Mercantile Exchange, Inc., will launch a new electricity futures contract which will be cash settled against day-ahead peak locational marginal prices for the ISO New England Internal Hub. The new NYMEX ISO New England Internal Hub Peak LMP Swap contract will be listed on ClearPortsm Trading and Clearing beginning with the Exchange's Monday, November 1, 2004 trading session, which starts at 7:00 PM, October 31, 2004. This new futures contract will be available during normal trading hours on NYMEX ClearPortsm trading. The contracts will initially be listed for December 2004 through December 2007. Additional specifications are as follows: Contract Quantity and Value: 2.5 megawatts per hour for each peak hour in the contract month. The contract quantity is the daily total of 40 Megawatt Hours MWH) multiplied by the number of peak days in the contract month. Minimum Tick: $0.05 per MWH Symbol: NI Fees: All fees waived for clearing and trading at the Exchange. Fees will be introduced after December 31, 2005. NYMEX ClearPortsm Trading: Liquidity Provider: $1.20 contract, paid   Opposite Side: No fee Margins: Margins will be announced in a subsequent memo.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com