PJM Northern Illinois Hub Day-Ahead Off-Peak Calendar-Month 5 MW Futures Contract Specs

Futures

Contract Unit	5 Megawatts hours (MWh)
Price Quotation	The contract quantity shall be 5 Megawatts hours (MWh). Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of off-peak hours in the month.
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: L3L CME ClearPort: L3 Clearing: L3
Listed Contracts	72 consecutive months
Settlement Method	Deliverable
Floating Price	The Floating Price will be determined for each contract month. The Floating Price will be equal to the arithmetic average of the PJM Northern Illinois Hub Day-Ahead LMP provided by PJM Interconnection, LLC (PJM) for all off-peak hours in the contract month. For settlement of this contract, the prices provided by PJM will be considered final on the payment day stated in Rule 153.09 and will not be subject to any further adjustment.
Termination Of Trading	Trading shall cease on the second to last business day of the month preceding the contract month/ At the termination of trading, positions in the PJM Northern Illinois Hub Day-Ahead Off-Peak Calendar-Month 5 MW Futures will cascade into a strip of PJM Northern Illinois Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures (Clearing Code PNO/CME Globex Code PNL).
Days Or Hours	Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation holidays.
Settlement Procedures	Delivery under the PJM Northern Illinois Hub Off-Peak Calendar-Month Day-Ahead LMP Swap 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 153
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing

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