• Listing of Twenty-Four (24) New Daily ERCOT Electricity Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5517
      • Notice Date
      • 20 December 2010
      • Effective Date
      • 09 January 2011

    • Effective Sunday, January 9, 2011 for trade date Monday, January 10, 2011, the New York Mercantile Exchange, Inc. (NYMEX) will launch twenty-four (24) new Electric Reliability Council of Texas (ERCOT) swap futures contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. The contracts are listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.  The first listed contract day for the daily contracts will be the January 10, 2011 contract day. The daily contracts will list current month plus the next month.

      NYMEX will allow Exchange of Futures for Related Position (EFRP) transactions to be submitted through CME ClearPort pursuant to the provisions of Exchange Rule 538. 

      PRODUCT SPECIFICATIONS

      Title, Rule Chapter and Commodity Code

      Product

      Venue

      Code

      ERCOT Houston Competitive Load Zone Day-Ahead 5 MW Peak Calendar-Day Swap Futures 

      1025

      EHC

      ERCOT West Competitive Load Zone Day-Ahead  5 MW Peak Calendar-Day Swap Futures

      1026

      EWC

      ERCOT North Competitive Load Zone Day-Ahead 5 MW Peak Calendar-Day Swap Futures

      1027

      ERC

      ERCOT South Competitive Load Zone Day-Ahead 5 MW Peak Calendar-Day Swap Futures

      1028

      EUC

      ERCOT Houston Competitive Load Zone Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1029

      EOH

      ERCOT West Competitive Load Zone Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1030

      EWH

      ERCOT North Competitive Load Zone Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1031

      ENH

      ERCOT South Competitive Load Zone Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1032

      ETH

      ERCOT Houston Competitive Load Zone Real-Time 5 MW Peak Calendar-Day Swap Futures 

      1009

      EHM

      ERCOT West Competitive Load Zone Real-Time 5 MW Peak Calendar-Day Swap Futures

      1010

      EWM

      ERCOT North Competitive Load Zone Real-Time 5 MW Peak Calendar-Day Swap Futures

      1011

      ENM

      ERCOT South Competitive Load Zone Real-Time 5 MW Peak Calendar-Day Swap Futures

      1012

      EUM

      ERCOT Houston Competitive Load Zone Real-Time 5 MW Off-Peak Calendar-Day Swap Futures

      1013

      EHT

      ERCOT West Competitive Load Zone Real-Time 5 MW Off-Peak Calendar-Day Swap Futures

      1014

      EWT

      ERCOT North Competitive Load Zone Real-Time 5 MW Off-Peak Calendar-Day Swap Futures

      1015

      ENT

      ERCOT South Competitive Load Zone Real-Time 5 MW Off-Peak Calendar-Day Swap Futures

      1016

      EST

      ERCOT Houston 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Swap Futures 

      1041

      EHF

      ERCOT West 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Swap Futures

      1042

      EWW

      ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Swap Futures

      1043

      ERW

      ERCOT South 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Swap Futures

      1044

      EUW

      ERCOT Houston 345 kV Hub Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1045

      EHW

      ERCOT West 345 kV Hub Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1046

      EWF

      ERCOT North 345 kV Hub Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1047

      ERP

      ERCOT South 345 kV Hub Day-Ahead 5 MW Off-Peak Calendar-Day Swap Futures

      1048

      EUP

       

      Days and Hours

      Peak day shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays. From Hour Ending (HE) 0700 Central Prevailing Time (CPT) through HE 2200 CPT.

      Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0600 and 2300 and 2400 Central Prevailing Time (CPT) and Saturday through Sunday HE 0100-2400 CPT including North American Electric Reliability Corporation holidays.

      Contract Quantity

      Peak contract: The contract quantity shall be 5 Megawatt hours (MWh). Transaction sizes for trading in any contract day shall be restricted to whole number multiples of the number of off-peak hours in the contract day.

      Each futures contract shall be valued at the contract quantity multiplied by the settlement price.

      Off-peak contract: The contract quantity shall be 5 Megawatt hours (MWh). Transaction sizes for trading any contract day shall be restricted to whole number multiples of the number of off-peak hours in the contract day. Each futures contract shall be valued as the contract quantity multiplied by the settlement price.

      Prices and Fluctuations

      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.01 per MWh. There shall be no maximum price fluctuation.

      Termination of Trading

      Peak contract: Trading shall cease on the business day that is the peak day. When the peak day is not a business day, trading shall cease on the previous business day.

       

      Off-peak contract: Trading shall cease on the business day that is the off-peak day. When the off-peak day is not a business day, trading shall cease on the previous business day.

       

      Fee Schedule

       

      Member

      Non-Member

      COMEX Blended

      ClearPort (On-Peak)

      $0.35

      $0.40

      NA

      Floor (On-Peak)

      $0.35

      $0.40

      $0.37

      Cash Settlement (On-Peak)

      $0.40

      $0.40

      NA

      ClearPort (Off-Peak)

      $0.02

      $0.03

      NA

      Floor (Off-Peak)

      $0.02

      $0.03

      $0.03

      Cash Settlement (Off-Peak)

      $0.02

      $0.03

      NA

      EFS, EFP, Spreads, Strips and ex Pit trades are available at standard member and nonmember rates – no surcharges apply. Block fees apply at standard levels.

       

      Should you have any questions or require any further information, please contact Mike O'Neill (212) 299-2348 or Kristen Bauer at (713) 658-9294.

       

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