• Listing of Four (4) PJM AD Hub and NI Hub 50 MW Option Contracts on NYMEX Trading Floor and CME ClearPort

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6118
      • Notice Date
      • 09 February 2012
      • Effective Date
      • 26 February 2012
    • Please be advised that effective Sunday, February 26, 2012, for trade date Monday, February 27, 2012, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list four (4) new electricity option contracts for open outcry tradingand for submission for clearing through CME ClearPort. These contractsare listed with, and subject to, the rules and regulations of NYMEX.
       
      SPECIFICATION SUMMARY:
       

      Contract Name
      PJM AEP Dayton Hub Peak 50 MW Calendar-Month LMP Swap Option
      PJM Northern Illinois Hub Peak 50 MW Calendar-Month LMP Swap Option
      PJM AEP Dayton Hub Peak 50 MW Calendar-Month LMP Option on Calendar Futures Strip
      PJM Northern Illinois Hub Peak 50 MW Calendar-Month LMP Option on Calendar Futures Strip
      Commodity Code
      PJD
      PJN
      PJP
      PJH
      Chapter
      1181
      1182
      1183
      1184
      Option Type
      American
      American
      European
      European
      Settlement Type
      Physical
      Physical
      Physical
      Physical
      Underlying Futures
      PJM AEP Dayton Hub Peak Calendar-Month LMP Swap Futures
      PJM Northern Illinois Hub Peak Calendar-Month LMP Swap Futures
      PJM AEP Dayton Hub Peak Calendar-Month LMP Swap Futures
      PJM Northern Illinois Hub Peak Calendar-Month LMP Swap Futures
      Contract Unit
      20 underlying futures contracts
      20 underlying futures contracts
      240 underlying futures contracts
      240 underlying futures contracts
      Expiration Date
      The option contract shall expire at the close of trading on the second to last business day of the calendar month immediately prior to the contract month.
      The option contract shall expire at the close of trading on the second to last business day of the calendar month immediately prior to the contract month.
       
      The option contract shall expire at the close of trading on the second to last Friday of the month prior to the delivery month of the first underlying month of the PJM AEP Dayton Hub Peak Calendar-Month LMP Swap Futures in the strip.
      The option contract shall expire at the close of trading on the second to last Friday of the month prior to the delivery month of the first underlying month of the PJM Northern Illinois Hub Peak Calendar-Month LMP Swap Futures in the strip.
      Minimum Price Fluctuation
      $0.01 per MWh
      $0.01 per MWh
      $0.01 per MWh
      $0.01 per MWh
      Strike Price Interval
      $0.50
      $0.50
      $0.50
      $0.50
      Trading Month
      72 consecutive months
      72 consecutive months
      Nearest 5 calendar years
      Nearest 5 calendar years

      ·         Trading Hours:
      Open Outcry: Monday – Friday 9:00a.m. – 2:30 p.m. (8:00 p.m. – 1:30p.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:

      Product Profile
      Product Name
      PJM AEP Dayton Hub Peak 50 MW Calendar-Month LMP Swap Option (PJD)
      PJM Northern Illinois Hub Peak 50 MW Calendar-Month LMP Swap Option (PJN)
      Exchange Fees
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      NA
      $80.00
      $80.00
      $80.00
      Globex
      NA
      NA
      NA
      NA
      NA
      ClearPort
      $80.00
      $80.00
      Processing Fees
      Member
      Non-Member
      Cash Settlement
      NA
      NA
      Futures from E/A
      $0.70
      $1.45
      House Acct
      Cust Acct
      Options E/A Notice
      $0.40
      $0.85
      Delivery Notice
      NA
      NA
      Additional Fees and Surcharges
      EFS Surcharge
      NA
      Block Surcharge
      NA
      Facilitation Desk Fee
      $1.00

       

      Product Profile
      Product Name
      PJM AEP Dayton Hub Peak 50 MW Calendar-Month LMP Option on Calendar Futures Strip (PJP)
      PJM Northern Illinois Hub Peak 50 MW Calendar-Month LMP Option on Calendar Futures Strip (PJH)
      Exchange Fees
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      NA
      $480.00
      $480.00
      $480.00
      Globex
      NA
      NA
      NA
      NA
      NA
      ClearPort
      $480.00
      $480.00
      Processing Fees
      Member
      Non-Member
      Cash Settlement
      NA
      NA
      Futures from E/A
      $0.70
      $1.45
      House Acct
      Cust Acct
      Options E/A Notice
      $0.40
      $0.85
      Delivery Notice
      NA
      NA
      Additional Fees and Surcharges
      EFS Surcharge
      NA
      Block Surcharge
      NA
      Facilitation Desk Fee
      $1.00

      For additional information, please contact Kristen Bauer at Kristen.Bauer@cmegroup.com or (713) 658-9294.

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2025 CME Group Inc. All rights reserved.