• Reduction in the Minimum Price Fluctuation for Sixteen (16) Western Electricity Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-6879
      • Notice Date
      • 21 October 2013
      • Effective Date
      • 10 November 2013
    • Effective Sunday, November 10, 2013, for trade date Monday, November 11, 2013, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will reduce the minimum price fluctuation for sixteen (16) California ISO (CAISO) electricity futures contracts from $0.05 per megawatt hour (MWh) to $0.01 per MWh.
       
      The contract titles, rule chapters, and clearing/CME Globex codes of the affected products are provided below.
       
       

      Contract
      Chapter
      Clearing Code
      Globex
      Code
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Real-Time LMP Futures
      264
      1Y
      1Y*
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Month Real-Time LMP Futures
      265
      1Z
      1ZA
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Real-Time LMP Futures
      266
      2D
      2D*
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Real-Time LMP Futures
      267
      2E
      C2E
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Day Real-Time LMP Futures
      268
      2F
      2FW*
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Day Real-Time LMP Futures
      269
      2H
      DHA
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Real-Time LMP Futures
      270
      2J
      2JW*
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Real-Time LMP Futures
      271
      2K
      B2K
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures
      342
      4X
      4XW*
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures
      343
      9X
      E9X
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures
      344
      3X
      3XW*
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures
      345
      5X
      DAX
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Day Day-Ahead LMP Futures
      346
      3Z
      3ZW*
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Day Day-Ahead LMP Futures
      347
      9Z
      DAZ
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP Futures
      348
      2Z
      2ZW*
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP Futures
      349
      4Z
      C4Z

       
      * The addition of the CME Globex venue to these eight (8) contracts will also be effective Sunday, November 10, 2013, for trade date Monday, November 11, 2013. Please see SER 6870R dated October 21, 2013.
       
      The Commodity Futures Trading Commission (CFTC) will be notified of the reduction of the minimum price fluctuation limits for these sixteen (16) contracts during the week of November 18, 2013, via the weekly notification procedures set forth in Part 40 of the CFTC Regulations.
      The amendments to the rules relating to the reduction in minimum price fluctuation limit for the above-listed contracts are provided in black-line format below with strikethrough reflecting deletion.
       
       
      Chapter 264
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Real-Time LMP Futures
       
      264.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 265
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Month Real-Time LMP Futures
       
      265.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
       
      Chapter 266
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Real-Time LMP Futures
       
      266.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
                                                                         
       
      Chapter 267
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Real-Time LMP Futures
       
      267.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
       
      Chapter 268
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Day Real-Time LMP Futures
       
      268.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 269
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Day Real-Time LMP Futures
       
      269.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 270
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Real-Time LMP Futures
       
      270.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 271
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Real-Time LMP Futures
       
      271.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 342
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures
       
      342.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
      Chapter 343
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures
       
      343.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 344
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures
       
      344.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
      Chapter 345
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures
       
      345.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
      Chapter 346
      CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Day Day-Ahead LMP Futures
       
      346.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 347
      CAISO SP15 EZ Gen Hub 5 MW Peak Calendar-Day Day-Ahead LMP Futures
       
      264.07. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 348
      CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP Futures
       
      348.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
      Chapter 349
      CAISO SP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP Futures
       
      349.06. PRICES AND FLUCTUATIONS
      Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be $0.05$0.01 per MWh. There shall be no maximum price fluctuation.
       
       
       
      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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