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MISO Michigan Hub Real-Time Peak Calendar-Month 5 MW 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 0.05 x 5 MW x 16 peak hours x # peak days/month
Product Code CME Globex: AHM
CME ClearPort: HM
Clearing: HM
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 Financially Settled
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the Michigan Hub Real Time LMP provided by Midcontinent Independent System Operator, Inc. (MISO), for all peak hours in the contract month. For settlement of this contract, the prices provided by MISO will be considered final on the Payment Date and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading terminates on the last business day of the month prior to the contract month.
CME ClearPort: Trading terminates on the last business day of the contract month.
Days Or Hours "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

Peak hours are the 16 hour period beginning with the hour ending 0800 and end with the hour ending 2300 Eastern Prevailing Time (EPT).
Settlement Procedures Delivery under the 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 776
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing