• Listing of PJM West Hub RT Same Day Option Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5875
      • Notice Date
      • 02 August 2011
      • Effective Date
      • 21 August 2011
    • Please be advised that effective Sunday, August 21, 2011, for trade date Monday, August 22, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list an electricity option contract, PJM West Hub RT Same Day Option, for open outcry trading and for clearing through CME ClearPort.  The contract is listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.

      SPECIFICATION SUMMARY:

      ·         Contract Name: PJM West Hub RT Same Day Option

      ·         Commodity Code: J01-J31

      ·         Chapter: 1069

      ·         Option Type: Financially settled, exercise only upon expiration

      ·         Underlying Futures: Twenty (20) PJM Peak Calendar-Day LMP Swap Futures (JD) contracts

      ·         Contract Unit: 800 MWh (50 MW per peak hour)

      ·         Expiration Date: The contract date will coincide with the contract ticker symbol (J01-J31). For Example, J25 will indicate a contract for the 25th calendar day of a month. Trading shall cease on the referenced contract date.

      ·         Minimum Price Fluctuation: $0.01 per MWh

      ·         Strike Price Intervals: $0.50 per MWh

      ·         First Listed Contract: J22 Q11 contract (August 22, 2011)

      ·         Listing Convention: PJM West Hub RT Same Day Option contract shall be listed each business day that is also a peak day.

      ·         Trading Hours:

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

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

      ·         Fee Schedule:

      Exchange Fees

       

      Member Day

      Member

      Cross Division

      Non-Member

      IIP

      Pit

      NA

      $4.00

      $4.00

      $4.00

       

      Globex

      NA

      NA

      NA

      NA

      NA

      ClearPort

       

      $4.00

       

      $4.00

       
                 

      Processing Fees

      Additional Fees and Surcharges

       

      Member

      Non-Member

      EFS Surcharge

      NA

      Cash Settlement

      $2.00

      $2.00

      Block Surcharge

      NA

      Futures from E/A

      NA

      NA

      Facilitation Desk Fee

      $0.20

       

      House Acct

      Cust Acct

           

      Options E/A Notice

      NA

      NA

         

      Delivery Notice

      NA

      NA

         
                     

      For additional information, please contact Robert Biolsi at (212) 299-2610.