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PJM Western Hub Real-Time Peak Calendar-Month 2.5 MW Futures Contract Specs

Contract Unit 2.5 MW (40 MWh)
2.55 MW x 16 peak hours = 40 MWh
Clears in multiples of the number of peak days in the contract 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)
Minimum Price Fluctuation 0.05 x 2.55 MW x 16 peak hours x # peak days/month
Product Code CME Globex: JML
CME ClearPort: JM
Clearing: JM
Listed Contracts Monthly contracts listed through and including December 2019
Settlement Method Financially Settled
Floating Price A Daily Floating Price will be determined for each peak day of each contract month. Each Daily Floating Price will be equal to the arithmetic average of the PJM Western Hub Real Time LMP for peak hours provided by PJM Interconnection, LLC for the peak day. For settlement of this contract, the prices provided by PJM will be considered final with the cash settlement stated in Rule 635.07.
and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex terminates at 23:59 EPT on the last calendar day of the month prior to the contract month. If that time is not within regular trading hours, trading on CME Globex terminates at 16:00 CT on the last business day of the month prior to the contract month.
CME ClearPort: Trading terminates on the 2nd last business day of the month prior to the contract month.
Days Or Hours “Peak day” shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT
Settlement Procedures Delivery under the NYMEX PJM Calendar-Month LMP Swap contract shall be by cash settlement.
Cash Settlement will take place in accordance with the following.Starting with the close of trading on the peak day prior to the contract month, the daily flow (equal
to 40 MWH) corresponding to the following peak day is subtracted from the quantity of each contract every business day until contract termination. The subtracted quantity is cash-settled based on the Daily Floating Price for the corresponding peak day.For peak days that are not also business days, subtraction of the daily flow corresponding to the peak day will take place on the business day immediately following this (these) day(s).
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 635
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing