ISO NEW ENGLAND MASS HUB PEAK LMP 5 MW CALENDAR STRIP OPTION - CONTRACT SPECS

Options
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 calendar strip
Minimum Price Fluctuation 0.01 x 5 MW x 16 peak hours x # peak days/calendar strip = ~$203.20 - $205.60
Price Quotation U.S. dollars and cents per MWh
Trading Hours CME Globex: 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)
CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. – 5:00 p.m. CT
Product Code CME Globex: NEG
CME ClearPort: NEL
Clearing: NEL
Listed Contracts Annual contracts (Jan) listed for 3 consecutive years
Termination Of Trading Trading terminates on the 2nd last Friday of the month prior to the first leg in the underlying strip. If the second last Friday is not a business day, trading terminates on the prior business day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 407
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style European
Exercise Procedure Exercises into a calendar strip of U6 futures
Settlement Method Deliverable
Underlying ISO New England Mass Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures