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The new contracts and their trading symbols are: Northern Illinois Hub monthly on–peak swap futures (UM); Northern Illinois Hub daily on–peak swap futures (UD); AEP–Dayton Hub monthly on–peak swap futures (VM); AEP–Dayton Hub daily on–peak swap futures (VD); PJM monthly off–peak swap futures (JP); New York Independent System Operator (NYISO) Zone A off–peak swap futures (KB); NYISO Zone G off–peak swap futures (KH); NYISO Zone J off–peak swap futures (KK); Northern Illinois Hub monthly off–peak swap futures (UO); AEP–Dayton Hub monthly off–peak swap futures (VP); and ISO New England Internal Hub off–peak swap futures (KI). The spot month for the on–peak contracts will be March and for off–peak contracts will be April.
The contracts will be available for trading on NYMEX ClearPort(sm) from 7 PM Sundays through 2:30 PM Fridays, with a 45–minute break each day between 2:30 PM and 3:15 PM. Off–Exchange transactions can also be submitted solely for clearing through NYMEX ClearPort(sm).
Contract units for the monthly Northern Illinois Hub and AEP–Dayton Hub contracts will be 40 megawatt hours times the number of peak days in the contract month. The daily Northern Illinois Hub and AEP–Dayton Hub on–peak contracts will be for 40 megawatt hours, and the PJM monthly, Northern Illinois Hub, AEP–Dayton Hub, NYISO A, G, and J, and ISO New England off–peak contracts will be for 2.5 megawatts for each off–peak hour in the contract month.
The Northern Illinois Hub monthly on–peak swap futures, Northern Illinois Hub daily on–peak swap futures, AEP–Dayton Hub monthly on–peak swap futures, and AEP–Dayton Hub daily on–peak swap futures contracts, PJM monthly off–peak swap futures, Northern Illinois Hub monthly off–peak swap futures, and AEP–Dayton Hub monthly off–peak swap futures contracts will settle on real–time locational marginal prices provided by PJM Interconnection, LLC, for the specified hub.
The NYISO Zone A, G, and J off–peak swap futures contracts will settle on the day–ahead locational marginal electricity prices provided by NYISO for the specified zones.
The ISO New England Internal Hub off–peak swap futures contract will settle on the hourly day–ahead locational marginal electricity prices provided by ISO New England.
Consistent with the Exchange's program for its other electricity contracts, all fees are waived through December 2005.
Exchange President James E. Newsome said, "In addition to introducing the six off–peak electricity swap futures contracts that complement the existing slate of PJM monthly, NYISO A, G, and J, and ISO New England peak hour contracts, the Exchange is excited to launch the Northern Illinois Hub and AEP–Dayton daily and monthly swap futures contracts to round out its electricity risk management tools."
