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CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures Contract Specs

Contract Unit 5 MW (80 MWh)
5 MW x 16 Peak Hours = 80 MWh
Clears in multiples of the number of peak days in the contract month.
Price Quotation U.S. dollars and cents per MWh
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 0.01 x 5 MW x 16 Peak Hours x # Peak Days/Month
Product Code CME Globex: 4XW
CME ClearPort: 4X
Clearing: 4X
Listed Contracts Monthly contracts listed for the current year and the next 5 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Deliverable
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the NP15 EZ Gen Hub Day-Ahead LMP for peak hours provided by California ISO (CAISO) for the contract month. For settlement of this contract, the prices provided by CAISO will be considered final on the payment date stated in Rule 342.10 and will not be subject to any further adjustment.
Termination Of Trading On the second to last business day of the month prior to the contract month, each 4X/4XW open position converts into a strip of CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Day Day-Ahead LMP Futures - 3Z/3ZW in the originally specified contract month.
Days Or Hours "Peak day" shall mean a Monday through Saturday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0700 Pacific Prevailing Time (PPT) through HE 2200 PPT.
Settlement Procedures Delivery under the CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures contract shall be by cash settlement. Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 342
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing