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NYISO Zone C Peak Calendar-Day 5 MW Day-Ahead LBMP Futures Contract Specs

Contract Unit 5 MW x 16 peak hours = 80 MWh
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 = $0.80
Product Code CME Globex: N3P
CME ClearPort: N3P
Clearing: N3P
Listed Contracts Daily contracts listed for the current month and next calendar month. List daily contracts for a new calendar month following the termination of trading in the last contract day of the current month.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract day will be equal to the arithmetic average of the NYISO Zone C Day-Ahead LBMP for peak hours provided by New York Independent Systems Operator (NYISO), for the contract day. For settlement of this contract, the prices provided by NYISO will be considered final on the Payment Date and will not be subject to any further adjustment.
Termination Of Trading Trading terminates on the contract day. If the contract day is not a business day trading terminates on the prior business day.
Days Or Hours Peak shall mean Monday - Friday Hour (HE) 0800 -2300 EPT excluding North American Electric Reliability Corporation (NERC) holidays.
Settlement Procedures Final settlement under the contract shall be by cash settlement. Final settlement, following termination of trading for a contract day, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1376
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing