• Listing of Two (2) NYISO Capacity Futures

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5830
      • Notice Date
      • 30 August 2011
      • Effective Date
      • 11 September 2011
    • Effective Sunday, September 11, 2011, for trade date Monday, September 12, 2011, the New York Mercantile Exchange, Inc. (NYMEX) will launch two (2) new NYISO Capacity 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.  NYMEX will allow the exchange of futures for related position (EFRP) transactions to be submitted through CME ClearPort pursuant to the provisions of Exchange Rule 538. 

      Product Specifications:

      Contract Title

      NYISO Rest of the State Capacity Calendar-Month Swap Futures

      NYISO NYC In-City Capacity Calendar-Month Swap Futures

      Commodity Code

      NRS 

      NNC

      Contract Size

      The contract quantity shall be 5 Megawatt months and is based on the NYISO $/kW-Month capacity price quotation. Transaction sizes for trading in any contract month shall be restricted to whole number multiples of 5 Megawatt months. Each futures contract shall be valued at the contract quantity multiplied by the settlement price times 1,000.

      The contract quantity shall be 5 Megawatt months and is based on the NYISO $/kW-Month capacity price quotation. Transaction sizes for trading in any contract month shall be restricted to whole number multiples of 5 Megawatt months. Each futures contract shall be valued at the contract quantity multiplied by the settlement price times 1,000.

      First Listed Month

      October 2011

      October 2011

      Listing Period

      Current season plus the next four seasons; six monthly contracts will be added following the termination of trading in the last monthly contract of the current season.

      Current season plus the next three seasons; six monthly contracts will be added following the termination of trading in the last monthly contract of the current season.

      Termination of Trading

      Trading shall cease on the last business day of the month preceding the contract month.

      Trading shall cease on the last business day of the month preceding the contract month.

      Prices and Fluctuations

      Prices shall be quoted in U.S. dollars and cents per kW-Month. The minimum price fluctuation shall be $50 per MW-Month. There shall be no maximum price fluctuation.

      Prices shall be quoted in U.S. dollars and cents per kW-Month. The minimum price fluctuation shall be $50 per MW-Month. There shall be no maximum price fluctuation.

      Minimum Price Tick

      $0.01

      $0.01

      Season

      A capacity year of NYISO includes two seasons: summer and winter. The summer season includes months of May through October, and the winter season includes months of November through April.

      A capacity year of NYISO includes two seasons: summer and winter. The summer season includes months of May through October, and the winter season includes months of November through April.

      Rule Chapter

      1105

      1106

       

       

      Trading and Clearing Hours:

      CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

      Open Outcry:    Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT).

       

      Fee Schedule:

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      na

      27.00

      27.00

      27.00

       

      Globex

      na

      na

      na

      na

      na

      ClearPort

       

      27.00

       

      27.00

       

                 

      Processing Fees

           

       

      Member

      Non-Member

           

      Cash Settlement

      27.00

      27.00

           

      Futures from E/A

      na

      na

           

       

       

             

      Additional Fees and Surcharges

             

      EFS Surcharge

      na

             

      Block Surcharge

      na

             

      Facilitation Desk Fee

      0.90

       

           

       

       

       

      Should you have any questions or require any further information, please contact Kristen Bauer (713) 658-9294.