• Listing of PJM Daily Load Forecast Futures Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6771R
      • Notice Date
      • 07 August 2013
      • Effective Date
      • 25 August 2013
    • This SER supersedes SER-6771 dated July 31, 2013. 
       
      Effective Sunday, August 25, 2013, for trade date Monday, August 26, 2013, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list a new PJM 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. 
      The contract title, commodity code, rule chapter, and specifications are provided below:
       

      Contract Name
      PJM Daily Load Forecast Futures
      Commodity Code
      PDJ
      Chapter
      181
      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 PJM system for the specified operating day that is the contract day. Hourly load is computed as the sum of the regional load values reported by PJM.
      Last Trading Day
      Trading shall cease on the business day following the PJM operating day that is the calendar day.
      Minimum Price Fluctuation
      The minimum fluctuation shall be $0.10.
      Listing Schedule
      CME Globex, CME ClearPort, and Open Outcry: Current day and the subsequent six calendar days.
      Trading Hours
       
       
      Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Central Time/CT)
       
      CME Globex and 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
      X
      0.35
      0.37
      0.40
      Globex
      X
      0.35
      0.37
      0.40
      0.37
      ClearPort
      0.35
      0.40
      Other Processing Fees
       
      Member
      Non-Member
      Cash Settlement
      0.105
      0.12
       
      Futures from E/A
      X
      X
       
       
      House Acct
      Customer Acct
       
      Options E/A Notice
      X
      X
       
      Delivery Notice
      X
      X
       

       

      Additional Fees and Surcharges
       
      EFS Surcharge
      X
       
      Block Surcharge
      X
       
      Facilitation Desk Fee
      0.02
       

       
       
       
       
      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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