Asset Class Navigation

MISO Michigan Hub 5 MW Off-Peak Calendar-Month Day-Ahead Futures Contract Specs

Contract Unit 5 MWh
Clears in multiples of the number of off-peak hours 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 # off-peak hours/month
Product Code CME Globex: HOA
CME ClearPort: HMO
Clearing: HMO
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 Midwest ISO Michigan Hub Day-Ahead LMP for Off-Peak hours provided by Midwest ISO (MISO), for 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 on CME Globex 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 Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) and Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation holidays.
Settlement Procedures Final settlement 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 1135
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing