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Description

A monthly cash settled Exchange Futures Contract based upon the mathematical average of daily prices calculated by averaging the off-peak hourly electricity prices published by PJM for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name

Off-Peak Futures (1 MW)

Trading Screen Hub Name

PJM DAY DA Off-Peak

Contract Symbol

DCO

Settlement Method

Cash settlement

Contract Size

1 MW

Currency

USD

Minimum Price Fluctuation

The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle

Up to 50 consecutive monthly contract periods, or as otherwise determined by the Exchange

Last Trading Day

The last Business Day of the Contract Period

Final Settlement

Reference Price A

REFERENCE PRICE A

ELECTRICITY-PJM-DAY-DAY AHEAD

a) Ref Price A - Description

"ELECTRICITY-PJM-DAY-DAY AHEAD" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery Date, stated in U.S. Dollars, published by PJM at http://www.pjm.com/markets-and-operations/energy/day-ahead/lmpda.aspx, under the headings "Daily Day-Ahead LMP: DAY" or any successor headings, that reports prices effective on that Pricing Date.

b) Ref Price A - Pricing Date

Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price

For each Monday through Friday, excluding NERC holidays, the average of LMPs for all hours ending 0100-0700, 2400 EPT; for each Saturday, Sunday, and NERC holiday, the average of LMPs for all hours ending 0100-2400 EPT

d) Ref Price A - Pricing calendar

PJM

e) Ref Price A - Delivery Date

Contract Period

Final Payment Date

The second Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Related Products

• PJM Day Day-Ahead Peak Fixed Price Future

Trading Hours

Codes