PJM NORTHERN ILLINOIS HUB DAY-AHEAD OFF-PEAK CALENDAR-MONTH 5 MW FUTURES - CONTRACT SPECS
| Contract Unit | 5 MWh Clears in multiples of the number of off-peak hours in the contract month. |
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| 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 # off-peak hours/month | ||||
| Product Code | CME Globex: L3LCME ClearPort: L3Clearing: L3 | ||||
| Listed Contracts | Monthly contracts listed for 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 | On the second to last business day of the month prior to the contract month, each L3/L3L open position converts into a strip of PJM Northern Illinois Hub Day Ahead Off-Peak Calendar-Day 5 MW Futures - PNO/POL in the originally specified contract month. | ||||
| 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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