- Trading Screen Product Name
- Peak Futures
- Trading Screen Hub Name
- PJM WH RT (800 MWh)
- Commodity Code
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
- 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
- Last Trading Day
At 2:30pm EPT on the second Business Day prior to the first calendar day of the Contract Period
- Option Style
- Exercise Method
Manual; Automatic on Last Trading Day
- Exercise Procedure
Clearing Members shall provide exercise and abandon instructions to the Clearing Organization in accordance with Clearing Organization Rules.
- Exercise Day
Manual on any Business Day, Automatic on Last Trading Day
- Automatic Exercise Provisions
Options which are "in the money", with respect to Reference Price A, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price.
Options which are "out of the money" expire automatically.
- REFERENCE PRICE A
ELECTRICITY-PJM-WESTERN HUB-REAL TIME-PEAK MONTHLY-ICE
- a) Ref Price A - Description
"ELECTRICITY-PJM-WESTERN HUB-REAL TIME-PEAK MONTHLY-ICE" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity on ICE of the PJM Western Hub Real-Time Peak Fixed Price Swap Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by ICE on that Pricing Date.
- b) Ref Price A - Pricing Date
Two Business Days prior to the first calendar day of the Contract Period
- c) Ref Price A - Specified Price
- d) Ref Price A - Pricing calendar
- e) Ref Price A - Delivery Date
- Strike Price Listing Provisions
A minimum of ten Strike Prices in increments of $1.00 per MWh above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.05 increments.
- MIC Code
- Clearing Venues