• Amendment to the Contract Quantity and Value Rule for the MISO Michigan Hub Off-Peak Calendar-Month LMP Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6501
      • Notice Date
      • 08 March 2013
      • Effective Date
      • 24 March 2013
    • 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.

      (underline indicates addition; strikethrough indicates deletion)

      Chapter 776A

      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.

       

      Please refer questions on this subject to:

      Research and Product Development

      Greg Price

      Gregory.Price@cmegroup.com (212) 299-2625Kristen.Bauer@cmegroup.com (713) 658-9294Trevor.Lindhout@cmegroup.com (713) 658-2346

      Products and Services

      Kristen Bauer

      Trevor Lindhout