PJM WESTERN HUB REAL-TIME PEAK CALENDAR-MONTH 5 MW OPTION - CONTRACT SPECS

Contract Unit	5 MW (80 MWh) 5 MW x 16 peak hours = 80 MWh Clears in multiples of the number of peak days in the contract month.
Minimum Price Fluctuation	0.01 x 5 MW x 16 peak hours x # peak days/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)
Product Code	CME Globex: JOA CME ClearPort: JOA Clearing: JOA
Listed Contracts	Monthly contracts listed fos 60 consecutive months
Termination Of Trading	Trading terminates on the 2nd last business day of the month prior to the contract month
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 1177
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	American
Settlement Method	Deliverable
Underlying	PJM Western Hub Peak Calendar-Month Real-Time LMP Futures

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 contract month.
Minimum Price Fluctuation	0.01 x 50 MW x 16 peak hours x # peak days/month = $152.00 - $184.00
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: PMA CME ClearPort: PMA Clearing: PMA
Listed Contracts	Monthly contracts listed for the current year and the next 5 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Termination Of Trading	Trading terminates on the 2nd last business day of the month prior to the contract month
Exchange Rulebook	NYMEX 1186
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	American
Settlement Method	Deliverable
Underlying	PJM Western Hub Peak Calendar-Month Real-Time LMP Futures

Contract Unit	5 MW (80 MWh) 5 MW x 16 peak hours = 80 MWh Clears in multiples of the number of peak days in the calendar strip
Minimum Price Fluctuation	0.01 x 5 MW x 16 peak hours x # peak days/calendar strip = ~$203.20 - $205.60
Price Quotation	U.S. dollars and cents per MWh
Trading Hours	CME Globex:	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)
	CME ClearPort:	Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. – 5:00 p.m. CT
Product Code	CME Globex: 6OA CME ClearPort: 6OA Clearing: 6OA
Listed Contracts	Annual contracts (Jan) listed for 3 consecutive years
Termination Of Trading	Trading terminates on the 2nd last Friday of the month prior to the first leg of the strip. If the 2nd last Friday is not a business day, trading terminates on the prior business day.
Exchange Rulebook	NYMEX 1178
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	European
Exercise Procedure	Exercises into a calendar strip of L1 futures
Settlement Method	Deliverable
Underlying	PJM Western Hub Peak Calendar-Month Real-Time LMP Futures

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