Notice to Members
Notice No. 330
08/10/2005
Clarifying Amendments to Financially-Settled Electricity Futures Contracts
Please be advised that the New York Mercantile Exchange, Inc. has made the following clarifications to its financially-settled electricity futures contracts:
  1. The minimum price fluctuation for the NYISO Peak monthly contracts has changed from $0.01 to $0.05 in order to be consistent with all other cash-settled NYMEX electricity contracts. Since the initial launch of the NYISO contracts, the industry standard has become a $0.05 minimum tick.

  2. The daily floating price is clarified for the following three contracts: the PJM Calendar-Day LMP Swap, the Northern Illinois Hub Calendar-Day LMP Swap, and the AEP-Dayton Hub Calendar-Day Swap. The amendment eliminates the superfluous "next" in the definition of the floating price.

  3. The tariffs of each of the transmission grid operators contain language that allow for the possibility of price recalculation any time in the future. Therefore, the Exchange is adding language to make explicit that NYMEX's final settlement for futures contract are final at the time of final settlement and are not subject to further change.
Link directly to Rule Amendments for Financially-Settled Electricity Futures Contracts
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com