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Description

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

Market Specifications

Trading Screen Product Name

Peak Futures (1 MW)

Trading Screen Hub Name

Nepool MH RT

Contract Symbol

NOF

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

Average of Reference Price A Prices

REFERENCE PRICE A

ELECTRICITY-ISO NEW ENGLAND-MASS HUB-REAL TIME

a) Description

"ELECTRICITY-ISO NEW ENGLAND-MASS 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 ISO New England here.

Final Real-Time Hourly LMPs: 4000:.H.INTERNAL_HUB: " or any successor headings, that reports prices effective on that Pricing Date.

b) Pricing Date

Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date

c) Specified Price

Average of LMPs for all hours ending 0800-2300 EPT

d) Pricing Calendar

ISO New England

e) Delivery Date

Contract Period

Final Payment Date

The third Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes