ISO New England Mass Hub 5 MW Peak Calendar-Month Day-Ahead LMP
Futures and Options
ISO New England Mass Hub Peak LMP 5 MW Calendar Strip 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 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: NEG CME ClearPort: NEL Clearing: NEL |
| 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 in the underlying strip. If the second last Friday is not a business day, trading terminates on the prior business day. |
| Position Limits | |
| Exchange Rulebook | |
| Vendor Codes | |
| Strike Prices Strike Price Interval | |
| Exercise Style | European |
| Exercise Procedure | Exercises into a calendar strip of U6 futures |
| Settlement Method | Deliverable |
| Underlying | ISO New England Mass Hub 5 MW Peak Calendar-Month Day-Ahead LMP Futures |
