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Description

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

Market Specifications

Trading Screen Product Name

Peak Futures

Trading Screen Hub Name

PJM WH RT

Contract Symbol

PDP

Settlement Method

Cash settlement

Contract Size

800 MWh

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 365 consecutive daily Contract Periods, or as otherwise determined by the Exchange.

Last Trading Day

For Monday through Friday Contract Periods, excluding NERC holidays, if the following calendar day is a Business Day, the Business Day following the Contract Period with a closing time of 11:00pm EPT the night before; If the following calendar day is not a Business Day, the Business Day equal to the Contract Period with a closing time equal to the end of the Trading Session For each Saturday, Sunday, and NERC holiday Contract Period, the last Business Day prior to the Contract Period with a closing time equal to the end of the Trading Session.

Final Settlement

Reference Price A

REFERENCE PRICE A

ELECTRICITY-PJM-WESTERN HUB-REAL TIME

a) Ref Price A - Description

"ELECTRICITY-PJM-WESTERN HUB-REAL TIME" 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 the PJM at Data Miner 2, under the headings "Daily Real-Time LMP: Daily Real-Time Locational Marginal Pricing Files: WESTERN HUB" 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

Average of LMPs for all hours ending 0800-2300 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

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• PJM Western Hub Real-Time Peak Daily Mini Fixed Price Future
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Trading Hours

Codes