CME Group has launched clearing services for 18 new, financially-settled, electricity swap futures contracts through CME ClearPort.
Beginning on 14 June for trade date 15 June, 16 ERCOT and two Midwest ISO swap futures contracts will be listed for trading by NYMEX through CME ClearPort, and are subject to NYMEX rules and regulations.
The new contracts and their commodity codes are:
ERCOT Houston Zone MCPE 50 MW Peak Swap Futures (2N)ERCOT Houston Zone MCPE 50 MW Off-Peak Swap Futures (2W)ERCOT Houston Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2S)ERCOT Houston Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3E)ERCOT North Zone MCPE 50 MW Peak Swap Futures (2P)ERCOT North Zone MCPE 50 MW Off-Peak Swap Futures (2X)ERCOT North Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2T)ERCOT North Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3F)ERCOT South Zone MCPE 50 MW Peak Swap Futures (2Q)ERCOT South Zone MCPE 50 MW Off-Peak Swap Futures (2Y)
ERCOT South Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2U)ERCOT South Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3H)ERCOT West Zone MCPE 50 MW Peak Swap Futures (2R)ERCOT West Zone MCPE 50 MW Off-Peak Swap Futures (3D)ERCOT West Zone MCPE 50 MW Peak Calendar-Day Swap Futures (2V)ERCOT West Zone MCPE 50 MW Off-Peak Calendar-Day Swap Futures (3J)Midwest ISO Illinois Hub 5 MW Peak Calendar-Month Day-Ahead LMP Swap Futures (4Q)Midwest ISO Illinois Hub 5 MW Off-Peak Calendar-Month Day-Ahead LMP Swap Futures (4R)
The ERCOT peak contracts will be 800 megawatt hours in size, and the ERCOT off-peak contracts will be 50 megawatt hours. The minimum price fluctuation will be USD0.01.
The Midwest ISO peak contracts will be 80 megawatt hours in size, and the Midwest ISO off-peak contracts will be 5 megawatt hours. The minimum price fluctuation will be USD0.05.
The first listed month for these contracts will be July 2009. Monthly contracts will be listed for the current year plus the next five calendar years, consecutively. A new calendar year will be added following the termination of trading in the December contract of the current year. The daily contracts will be listed for the current month plus the next month.
L.D.