The opening bell was rung at 7:30 AM by PJM Interconnection, LLC, representatives Kenneth W. Laughlin, vice president of market services; Francis Barrett, director of business development; and Yvette M. Brown, manager of customer relations and training. It is traded through open outcry from 7:30 AM to 2:30 PM and from 3:15, Mondays through Thursdays, to 7 AM the next day on NYMEX ClearPortsm. On Sunday evenings, trading begins on NYMEX ClearPortsm at 7 PM.
In his welcoming remarks prior to the launch, Exchange Chairman Vincent Viola said that this complex contract could not have been developed or introduced without a close "partnership between committed Exchange members and industry representatives."
Exchange President J. Robert Collins, Jr., said, "We are very pleased with the initial interest shown in the new contract, which ranks with the introductions of most of our liquid current markets. The success of this product will enable the Exchange to offer comprehensive risk management and price discovery services to every major segment of the energy industry."
The Exchange will introduce a weekly PJM futures contract the afternoon of May 22 for the trade date of May 23, and a daily futures contract will be introduced the afternoon of May 29 for the trade date of May 30.
