• Listing of New ERCOT Daily Load Forecast Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6668
      • Notice Date
      • 12 June 2013
      • Effective Date
      • 16 June 2013
    • Effective Sunday, June 16, 2013, for trade date Monday, June 17, 2013,and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will launch the ERCOT Daily Load Forecast Futures contract for trading on CME Globex and the NYMEX trading floor, and for submission for clearing through CME ClearPort. 
       
      Also concurrent with the launch of this contract and pending all relevant CFTC regulatory review periods, the Exchange will permit block trading pursuant to Rule 526 (Block Trades) in this contract at a block trade minimum threshold of two (2) contracts.
       
      CONTRACT SPECIFICATIONS:
       

      Contract Name
      Code
      Rule Chapter
      Listing Schedule
      First Listed Day
      ERCOT Daily Load Forecast Futures
      EMC
      1185
      CME Globex, CME ClearPort, and Open Outcry: Current day and the subsequent seven calendar days.
      June 17, 2013

       
      Contract Size: The unit of trading shall be the $0.10 multiplied by the maximum hourly load, rounded to nearest whole megawatt, in the entire Electric Reliability Council of Texas (ERCOT) system, as posted by ERCOT for the specified operating day that is the contract day.
      Minimum Price Fluctuation: The minimum fluctuation shall be $0.10.
      Last Trading Day: Trading shall cease on the business day following the ERCOT operating day that is the calendar day.
      Trading Hours:
      CME Globex and CME ClearPort:Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Central Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).
       
      Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT)
       


       
      Fee Schedule:

      Exchange Fees
       
      Member Day
      Member
      Cross Division
      Non-Member
      IIP
      Pit
      X
      .35
      .37
      .40
      Globex
      X
      .35
      .37
      .40
      ClearPort
      .35
      .40
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      .08
      .12
      *only applies to financially settled contracts
      Futures from E/A
      X
      X
      *applies to futures contracts
       
      House Acct
      Customer Acct
      Options E/A Notice
      X
      X
      *applies to physical options
      Delivery Notice
      X
      X
      *applies to physical futures

       

      Additional Fees and Surcharges
       
      EFS Surcharge
      X
      *$2.50 fee typically only charged on our core physical contracts
      Block Surcharge
      X
      *$0.10 fee charged on block trades
      Facilitation Desk Fee
      .02
      *fee applies to CPC trades entered by ClearPort Market Ops

       
       
       
      Please refer questions on this subject to:
      Research and Product Development
      Greg Price                                Gregory.Price@cmegroup.com                          (212) 299-2625
       
      Products and Services
      Kristen Bauer                            Kristen.Bauer@cmegroup.com                           (713) 658-9294

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