PJM NORTHERN ILLINOIS HUB REAL-TIME PEAK CALENDAR-MONTH 5 MW OPTION - 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.
Minimum Price Fluctuation	0.01 x 5 MW x 16 peak hours x # peak days/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)
Product Code	CME Globex: OUA CME ClearPort: OUA Clearing: OUA
Listed Contracts	Monthly contracts listed for the current year and the next 4 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Termination Of Trading	Trading terminates on the 2nd last business day of the month prior to the contract month.
Exchange Rulebook	NYMEX 1270
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	American
Settlement Method	Deliverable
Underlying	PJM Northern Illinois Hub 5 MW Peak Calendar-Month Real-Time LMP Futures

Contract Unit	1 option exercises into 10 lots of PJM Northern Illinois Hub Real-Time Peak Calendar-Month 5 MW Futures
Minimum Price Fluctuation	$0.01 per megawatt hour
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)
Product Code	CME Globex: AJN CME ClearPort: PJN Clearing: PJN
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.
Termination Of Trading	Trading terminates the second last business day of the month prior to the contract month.
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 1182
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	American
Settlement Method	Deliverable
Underlying	PJM Northern Illinois Hub 5 MW Peak Calendar-Month Real-Time LMP Futures

Contract Unit	50 MW (800 MWh) 50 MW x 16 peak hours = 800 MWh Clears in multiples of the number of peak days in the calendar strip
Minimum Price Fluctuation	0.01 x 50 MW x 16 peak hours x # peak days/calendar strip = ~$2032.00 - $2056.00
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: JHA CME ClearPort: PJH Clearing: PJH
Listed Contracts	Annual contracts (Jan) listed for 5 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 1184
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	European
Exercise Procedure	Exercises into 20 calendar strips of B3 futures
Settlement Method	Deliverable
Underlying	PJM Northern Illinois Hub 5 MW Peak Calendar-Month Real-Time LMP Futures

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