Nymex: PJM Daily Electricity Futures Set Daily Volume Record

PJM daily electricity futures set a single session volume record on the New York Mercantile Exchange, Inc., today when a combination of 1,331 contracts were traded and cleared or cleared, surpassing the volume of 447 contracts on August 27.

The volume includes 391 contracts traded on the NYMEX ClearPort^sm trading platform, breaking the previous traded record of 277 contracts on August 26; and 940 off-Exchange contracts submitted to the NYMEX ClearPort^sm clearing website, surpassing the previous clearing record of 240 contracts on August 27.

The PJM daily electricity futures contract trades from 3:15 PM, Mondays through Thursdays, to 2:30 PM the next day on NYMEX ClearPort^sm. On Sunday evenings, trading begins on NYMEX ClearPort^sm 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 available through NYMEX ClearPort^sm during the same times.

Exchange President J. Robert Collins, Jr., said, "The growth in the PJM daily electricity futures contract is a result of the desire by the marketplace for a flexible, financially secure trading instrument for managing short-term price risk. The combined open interest of more than 9,000 contracts in the PJM monthly, weekly, and daily futures contracts serves as a strong indication that market participants regard these contracts as important business tools."