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CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of clearing services for 18 new, financially-settled, electricity swap futures contracts through CME ClearPort®, a set of flexible clearing services open to over the counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes. Beginning on June 14 for trade date June 15, 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 $0.01.
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 $0.05.
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.
For more information, please visit www.cmegroup.com/clearport.
