• Listing of PJM West Hub RT 50 MW Off-Peak Option

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6029
      • Notice Date
      • 23 November 2011
      • Effective Date
      • 11 December 2011
    • Please be advised that effective Sunday, December 11, 2011, for trade date Monday, December 12, 2011, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a new electricity option contract, PJM West Hub RT 50 MW Off-Peak Option, for open outcry trading and for clearing through CME ClearPort.  The contract is listed with, and subject to, the rules and regulations of NYMEX.

      SPECIFICATION SUMMARY:

      ·         Contract Name: PJM West Hub RT 50 MW Off-Peak Option

      ·         Commodity Code: N9P

      ·         Chapter: 1179

      ·         Option Type: Physically settled, American style option

      ·         Underlying Futures: PJM Western Hub Off-Peak Calendar-Month Real-Time LMP Swap Futures (N9)

      ·         Contract Unit: 50 MWh

      ·         Expiration Date: Trading will cease at the close of trading two business days prior to the contract month.

      ·         Minimum Price Fluctuation: $0.01 per MWh

      ·         Strike Price Intervals: $0.50 per MWh

      ·         First Listed Contract Month: January 2012

      ·         Listing Convention: The current year plus the next five calendar years

      ·         Trading Hours:

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

      $0.30

      $0.30

      $0.30

       

      Globex

      NA

      NA

      NA

      NA

      NA

      ClearPort

       

      $0.30

       

      $0.30

       
                 

      Processing Fees

      Additional Fees and Surcharges

       

      Member

      Non-Member

      EFS Surcharge

      NA

      Cash Settlement

      NA

      NA

      Block Surcharge

      NA

      Futures from E/A

      NA

      NA

      Facilitation Desk Fee

      $0.01

       

      House Acct

      Cust Acct

           

      Options E/A Notice

      $0.03

      $0.06

         

      Delivery Notice

      NA

      NA

         
                     

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