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PJM Northern Illinois Hub Peak 50 MW Calendar-Month LMP Swap (European) Option Contract Specs

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 strip of months.
Minimum Price Fluctuation 0.01 x 50 MW x 16 peak hours x # peak days/strip of months
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: JHA
CME ClearPort: PJH
Clearing: PJH
Listed Contracts Annual contracts (January) 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 1 option exercises into 240 lots of PJM Northern Illinois Hub Peak Calendar-Month LMP Futures; 20 lots per month for the 12 consecutive underlying futures contract months
Settlement Method Deliverable
Underlying PJM Northern Illinois Hub 5 MW Peak Calendar-Month Real-Time LMP Futures