• Administrative Amendments to the Accountability Levels and Expiration Position Limits for Two Western Hub Electricity Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-4858
      • Notice Date
      • 30 April 2009
      • Effective Date
      • 20 April 2009
    • The New York Mercantile Exchange, Inc. has amended Chapter 9A, Appendix A, as to the

      accountability levels (Rule 9A.26) and expiration month position limits (9A.27) for two Western Hub electricity contracts.  The amendments revert the levels and limits for the PJM Western Hub Peak Calendar-Month Day-Ahead LMP Swap Futures Contract (J4) and PJM Western Hub Off-Peak Calendar-Month Day-Ahead LMP Swap Futures Contract (E4) to the original launch levels and limits established as of December 4, 2008 (see NYMEX Notice to Members No. 08-609).  The accountability levels and expiration month position limits were lowered in error subsequent to the December 4, 2008 launch and in connection with the launch of an additional 34 new electricity contracts on February 23, 2009 (see Notice to Members No. 09-77).  These amendments were effective as of April 20, 2009. 

       

      Contract related questions can be directed to Anthony V. Densieski, Director, Market Surveillance at (212) 299-2881, or Chris Reinhardt, Supervisor, Market Surveillance at (212) 299-2884.  Please contact Martin Jacobs, Senior Director, Applications Development, at (212) 299-2829 if you have any information services questions. 

       

       

      Attachment

       


       

      Contract Name

      Rule Chapter

      Com-modity Code

      All Month Accountability Level

      Any One Month Accountability Level

      Expiration Month Limit

      Reporting Level

      Aggregate Into (1)

      Aggregate Into (2)

       

      Rule 9A.26

      Rule 9A.26

      Rule 9A.27

      Rule 9A.34

      Electricity

       

       

       

       

       

       

       

      PJM Interconnection, LLC

       

       

       

       

       

       

       

      Western Hub

       

       

       

       

       

       

       

      PJM Western Hub Peak Calendar-Month Day-Ahead LMP Swap Futures Contract

      174

      J4

      2,000 9,000

      1,500 7,000

      300 2,000

      25

      J4

       

      PJM Western Hub Off-Peak Calendar-Month Day-Ahead LMP Swap Futures Contract

      175

      E4

      1,500 100,000

      1,000 80,000

      200 40,000

      25

      E4