Effective Sunday, March 24, 2013, for the trade date Monday, March 25, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the contract quantity and value rule for the MISO Michigan Hub Off-Peak Calendar-Month LMP Futures contract (commodity code: HJ, chapter: 776A). The amendment corrects an administrative error by changing the basis for calculating the contract quantity and value from peak hours to off-peak hours.
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MISO Michigan Hub Off-Peak Calendar-Month LMP Futures
776A.04. CONTRACT QUANTITY AND VALUE
The contract quantity is based on 2.5 megawatts per hour for each off-peak hour of the contract month.
The daily total is 40 Megawatt Hours (MWH). One contract shall equal the daily total 2.5 megawatts per hour multiplied by the number of off-peak days hours in the contract month. Each futures contract shall be valued as the contract quantity multiplied by the settlement price.
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