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ICE Futures U.S.

PJM Daily Load Future

Description

A daily cash settled Exchange Futures Contract based upon the PJM Daily Actual Load by PJM RTO for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
Daily Load Futures
Trading Screen Hub Name
PJM RTO DL
Contract Symbol
PDF
Settlement Method
Cash settlement
Contract Size
$1.00
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be 1 MW per 1 USD; 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 Contract Periods that fall on a Business Day where the following calendar day is also a Business Day, one Business Day following the Contract Period with a closing time of 11pm EPT the night before; For Contract Periods that fall on a Business Day where 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 Contract Periods that do not fall on a Business Day, one Business Day prior to the Contract Period with a closing time equal to the end of the Trading Session.
Final Settlement
Final Reference Price A Price
REFERENCE PRICE A
The maximum hourly load in the entire PJM system during the specified Contract Period.
a) Ref Price A - Description
Hourly load is calculated as the sum of the regional load values reported by PJM RTO. “Hourly Load” means Integrated hourly loads which are calculated for each PJM Region from raw telemetry data and are approximate. The load data is calculated and posted when all transaction information has been confirmed with the market participants and the external control areas on PJM website http://pjm.com/markets-and-operations/energy/real-time/loadhryr.aspx.
b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
The maximum Hourly Load rounded to the nearest whole MW for the entire PJM system reported for the Delivery Date.
d) Ref Price A - Pricing calendar
PJM
e) Ref Price A - Delivery Date
Contract Period
Final Payment Date
For Contract Periods that fall on a Business Day where the following calendar day is also a Business Day, four Business Days following the Last Trade Date; for all other Contract Periods, five Business Days following the Last Trade Date.
MIC Code
IFED
Clearing Venues
ICEU

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 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
PJM Daily Load
Physical
PDF
Logical
PDF
GMI (FC)
TE
ION A.C.N.
Symbol Code
PDF