MISO Michigan Hub Day-Ahead Off-Peak Fixed Price Future31687060

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 MISO for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
Off-Peak Futures (1 MW)
Trading Screen Hub Name
Mich Hub DA Off-Peak
Commodity Code
MGQ
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-MISO- MICHIGAN HUB-DAY AHEAD
a) Ref Price A - Description
"ELECTRICITY-MISO- MICHIGAN HUB-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 the MISO at https://www.midwestiso.org/Library/MarketReports/Pages/MarketReports.aspx, under the headings "Library: Market Reports" 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, EST, that are not ending 0800-2300 EPT; for each Saturday, Sunday, and NERC holiday, the average of LMPs for all hours ending 0100-2400 EST
d) Ref Price A - Pricing calendar
MISO
e) Ref Price A - Delivery Date
Contract Period
Final Payment Date
The sixth Clearing Organization business day following the Last Trading Day
MIC Code
IFED
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Pwr East OPMini
Physical
MGQ
Logical
MGQ
GMI(FC)
R&N A.C.N.