Asset Class Navigation

PJM AEP Dayton Hub Day-Ahead LMP 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: D7L
CME ClearPort: D7
Clearing: D7
Listed Contracts Monthly contracts listed for 72 consecutive months
Settlement Method Deliverable
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the PJM AEP Dayton Hub Day-Ahead LMP for peak hours provided by PJM Interconnection, LLC (PJM) for the contract month. For settlement of this contract, the prices provided by PJM will be considered final on the payment date stated in Rule 156.10 and will not be subject to any further adjustment
Termination Of Trading On the last business day of the month prior to the contract month, each D7/D7L open position converts into a strip of PJM AEP Dayton Hub Day-Ahead Peak Calendar-Day 5 MW Futures - PAP/PAL in the originally specified contract month.
Days Or Hours “Peak day” shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT
Settlement Procedures Delivery under the PJM AEP Dayton Hub Day-Ahead LMP Peak Calendar-Month 5 MW Futures 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 156
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing