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MISO Illinois Hub Peak Calendar-Month LMP 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: AOH
CME ClearPort: OM
Clearing: OM
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 A Daily Floating Price will be determined for each peak day of each contract month. Each Daily Floating Price will be equal to the arithmetic average of the MISO Illinois Hub Real Time LMP for peak hours provided by Midwest Independent Transmission System Operator, Inc. (MISO), for the peak day. For settlement of this contract, the prices provided by MISO will be considered final on the payment day stated in Rule 778.10. and will not be subject to any further adjustment
Termination Of Trading CME Globex: Trading on CME Globex terminates at 23:59 EPT on the last calendar day of the month prior to the contract month. If that time is not within regular trading hours, trading on CME Globex terminates at 16:00 CT 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 778
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing