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Nymex: PJM Daily Electricity Futures Set A Daily Trading Record

Date 18/12/2003

PJM daily electricity futures set a single session trading volume record on the New York Mercantile Exchange, Inc., yesterday when 960 contracts were traded on NYMEX ClearPortsm, surpassing the 745 contracts traded on December 11.

The PJM daily electricity futures contract trades from 3:15 PM, Mondays through Thursdays, until 2:30 PM the next day on NYMEX ClearPortsm. On Sunday evenings, trading begins at 7 PM. Electronic trading for the balance of the spot month and weekly PJM futures contracts, as well as clearing services for off-exchange trades, are also available on NYMEX ClearPortsm during the same times.

Exchange President J. Robert Collins, Jr., said, "Market participation in the PJM electricity futures complex continues to expand. Open interest of nearly 15,000 contracts in the monthly, weekly, and daily contracts combined is evidence that the marketplace is increasingly looking to the Exchange for market transparency, liquidity, and protection from counterparty credit risk."