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PJM Northern Illinois Hub Real-Time Off-Peak Calendar-Day 5 MW Futures Contract Specs

Contract Unit The contract quantity shall be 5 Megawatts Hours (MWh). Transaction sizes for trading in any contract day shall be restricted to whole number multiples of the number of off-peak hours in the contract day. The contract quantity is adjusted to reflect the transition in and out of Daylight Savings Time. (On CME Globex, lot size needs to be in multiples of 10 to achieve the 50 MW clip size)
Price Quotation $/MWH
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.05 per MWH
Product Code CME Globex: NOI
CME ClearPort: NOC
Clearing: NOC
Listed Contracts Current month and next full month
Settlement Method Financially Settled
Floating Price The Floating Price for each contract day will be equal to the arithmetic average of the PJM Northern Illinois Hub Real-Time LMP for off-peak hours provided by PJM Interconnection, LLC (PJM), for the contract day. For settlement of this contract, the prices provided by PJM will be considered final on the Payment Date and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex will terminate at 23:59 local time of the independent system operator/regional transmission organization on the calendar day that is the contract day. If that time is not within CME Globex regular trading hours, trading on CME Globex shall cease at the normal termination time (i.e., 16:15 CT) on the nearest business day on or before the contract day.
CME ClearPort: Trading shall cease on the business day that is the off-peak day. When the off-peak day is not a business day, trading shall cease on the previous business day.
Days Or Hours Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) and Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation 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 958
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing