Nymex To Move Daytime Trading of Financially Settled PJM Monthly Electricity Futures To NYMEX ClearPort<SUP>sm</SUP>

The New York Mercantile Exchange, Inc., board of directors last night voted to move daytime trading of its financially settled PJM monthly electricity futures contract to its NYMEX ClearPort^sm system from the trading floor on November 1.

Currently, the contract is traded on the system overnight and during the contract month as the unit diminishes day–by–day as part of the expiration process. In addition, the Exchange's weekly and daily PJM futures contracts are already traded during the same hours on NYMEX ClearPort^sm.

Three New York Independent System Operator (NYISO) electricity futures contracts and four Dow Jones electricity index futures contracts are also traded on NYMEX ClearPort^sm. and physically delivered PJM, Palo Verde, and Mid–Columbia electricity futures are offered solely for clearing through NYMEX ClearPort^sm.

Exchange President James E. Newsome said, "While we have been very pleased with the growth in this contract, which is currently at nearly 30,000 lots of open interest, we feel further efficiency and potential growth will be added to all of our electricity products by consolidating the full complex into a single venue. This will offer additional risk management and arbitrage opportunities to our electricity industry customers."