SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-423

Organization: New York Mercantile Exchange, Inc. ("NYMEX")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 10/30/23 Filing Description: Delisting of Eight (8) Electricity 

Futures Contracts

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: 

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected: See filing.

Rule Numbers: See filing.
20 S Wacker Dr Chicago, IL 60606 T 312 466 7478 tim.elliott@cmegroup.com cmegroup.com

1

Timothy Elliott

Managing Director and Chief Regulatory Counsel

Legal Department

October 30, 2023

VIA ELECTRONIC PORTAL

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: CFTC Regulation 40.6(a) Certification. Delisting of Eight (8) Electricity Futures 

Contracts.

NYMEX Submission No. 23-423

Dear Mr. Kirkpatrick:

New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) is certifying to the Commodity Futures 

Trading Commission (“CFTC” or “Commission”) the delisting of eight (8) electricity Futures contracts as set 

forth in the table below (the “Contracts”) effective immediately. There is no open interest in the Contracts. 

Contract Title Commodity 

Code

Rulebook 

Chapter

Palo Verde Day-Ahead Peak Calendar-Day 5 MW Futures VLD 940

Palo Verde Day-Ahead Peak Calendar-Month 5 MW Futures PVL 939

Palo Verde Day-Ahead Off-Peak Calendar-Day 5 MW Futures QVL 942

Palo Verde Day-Ahead Off-Peak Calendar-Month 5 MW Futures OVL 941

Mid-Columbia Day-Ahead Peak Calendar-Day 5 MW Futures MLD 936

Mid-Columbia Day-Ahead Peak Calendar-Month 5 MW Futures MDL 935

Mid-Columbia Day-Ahead Off-Peak Calendar-Day 5 MW Futures MXL 938

Mid-Columbia Day-Ahead Off-Peak Calendar-Month 5 MW Futures OML 937

The Contracts are being delisted from the CME Globex electronic trading platform (“CME Globex”) and 

CME ClearPort, the venues on which they were previously listed.

Exhibit A provides amendments to NYMEX Rulebook Chapters in blackline format.

As a result of the delisting, information regarding the Contracts has been deleted from the respective 

product rulebook chapters, related position limits in the Position Limit, Position Accountability and 

Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 (“Trading 

Qualifications and Practices”) of the NYMEX Rulebook (the “Table”), the CME Globex non-reviewable 

ranges located in Rule 588.H. of the NYMEX Rulebook, and the list of block-eligible products located on 

the CME Group website. The Table is attached under separate cover, in blackline format, as Exhibit B.
20 S Wacker Dr Chicago, IL 60606 T 312 466 7478 tim.elliott@cmegroup.com cmegroup.com

2

The Exchange reviewed the designated contract market core principles (“Core Principles”) as set forth in 

the Commodity Exchange Act (“CEA” or “Act”) and identified that the following Core Principles may be 

impacted by this initiative as follows:

• Emergency Authority: There is no open interest in the Contracts, and therefore there will be no 

market disruption related to the delisting. 

• Availability of General Information: The Exchange will make publicly available the details of the 

delisting by publishing a Special Executive Report (“SER”) to the marketplace. The SER will be 

available on CME Group’s website.

Pursuant to Section 5c(c) of the Act and CFTC Regulation 40.6(a), the Exchange hereby certifies that the 

delisting of the Contracts complies with the Act, including regulations under the Act. There were no 

substantive opposing views to this proposal.

The Exchange certifies that this submission has been concurrently posted on the Exchange’s website at

http://www.cmegroup.com/market-regulation/rule-filings.html.

Should you have any questions concerning the above, please e-mail 

CMEGSubmissionInquiry@cmegroup.com or contact the undersigned at (312) 466-7478. 

Sincerely,

/s/ Timothy Elliott

Managing Director and Chief Regulatory Counsel

Attachments: Exhibit A - Amendments to NYMEX Rulebook Chapters (blackline format) 

Exhibit B - Position Limit, Position Accountability, and Reportable Level Table in Chapter 

 5 of the NYMEX Rulebook (attached under separate cover) (blackline format) 
3

EXHIBIT A

NYMEX Rulebook

(deletions struck through)

Chapter 935

Mid-Columbia Day-Ahead Peak Calendar-Month 5 MW Futures

935100. SCOPE OF CHAPTER 

This chapter is limited in application to trading of Mid-Columbia Day-Ahead Peak Calendar-Month 5 

MW Futures (MDC). 

935101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract month shall be equal to the final settlement price for the MidColumbia Day-Ahead Peak Fixed Price Future, as reported by the Intercontinental Exchange (ICE 

Futures U.S.).

935102. TRADING SPECIFICATIONS

The number of months open for trading at a given time shall be determined by the Exchange. 

935102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

935102.B. Trading Unit 

The contract quantity shall be 80 megawatt hours (MWh) based on a flow rate of 5 Megawatts (MW) 

per peak hour on peak days. Each futures contract shall be valued as the contract quantity multiplied 

by the settlement price. 

935102.C. Peak Days and Peak Hours 

Peak day shall mean Monday through Saturday, excluding North American Electric Reliability 

Corporation (NERC) holidays.

Peak hour shall mean from Hour Ending (HE) 0700-2200 Prevailing Pacific Time (PPT) on peak 

days.

935102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. There shall be no maximum price fluctuation.

935102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

935102.F. Termination of Trading 

Trading shall cease on the second to last business day of the month before the contract month. At 

that time, a position in the Mid-Columbia Day-Ahead Peak Calendar-Month 5 MW Futures (MDC) 

contract will be converted to a strip of Mid-Columbia Day-Ahead Peak Calendar-Day 5 MW Futures 

(MDA) contracts. For example, in a twenty-six (26) peak-day month, a position of twenty-six (26) 

Mid-Columbia Day-Ahead Peak Calendar-Month 5 MW Futures (MDC) contracts will be converted 

at the termination of trading to a position of one (1) Mid-Columbia Day-Ahead Peak Calendar-Day 5 

MW Futures (MDA) contract per peak day in the contract month.
4

Chapter 936

Mid-Columbia Day-Ahead Peak Calendar-Day 5 MW Futures

936100. SCOPE OF CHAPTER 

The provisions of these rules shall apply to all futures contracts bought or sold on the Exchange for 

cash settlement based on the Floating Price. The procedures for trading, clearing and cash 

settlement of this contract, and any other matters not specifically covered herein shall be governed 

by the general rules of the Exchange. 

936101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract day shall be equal to the final settlement price for the MidColumbia Day-Ahead Peak Daily Fixed Price Future, as reported by the IntercontinentalExchange 

(ICE Futures U.S.). 

936102. TRADING SPECIFICATIONS

The number of days open for trading at a given time shall be determined by the Exchange. 

936102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

936102.B. Trading Unit 

The contract quantity shall be 80 Megawatt hours (MWh) based on a flow rate of 5 Megawatts (MW) 

per peak hour on the specified peak day. Each futures contract shall be valued as the contract 

quantity multiplied by the settlement price. 

936102.C. Peak Days and Peak Hours 

Peak day shall mean Monday through Saturday, excluding North American Electric Reliability 

Corporation (NERC) holidays. 

Peak hour shall mean from Hour Ending (HE) 0700-2200 Prevailing Pacific Time (PPT) on peak 

days.

936102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. 

936102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

936102.F. Termination of Trading 

Trading shall cease on the last business day prior to the contract day. 

936102.G. Payment Date 

Payment Date shall be three (3) business days following termination of trading. 

936103. FINAL SETTLEMENT 

Final settlement under the contract shall be by cash settlement. Final settlement, following the 

termination of trading for a contract day, will be based on the Floating Price. The final settlement 

price will be the Floating Price calculated for the contract day. Revisions to the final settlement price 

will be considered within three (3) business days following the termination of trading if ICE Futures 

U.S. revises the final settlement price for its Mid-Columbia Day-Ahead Peak Daily Fixed Price Future. 
5

Revisions to the final settlement price will not be considered after the third business day following the 

termination of trading.

Chapter 937

Mid-Columbia Day-Ahead Off-Peak Calendar-Month 5 MW Futures

937100. SCOPE OF CHAPTER 

This chapter is limited in application to trading of Mid-Columbia Day-Ahead Off-Peak Calendar-Month 

5 MW Futures (OMC). 

937101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract month shall be equal to the final settlement price for the MidColumbia Day-Ahead Off-Peak Fixed Price Future, as reported by the IntercontinentalExchange (ICE 

Futures U.S.). 

937102. TRADING SPECIFICATIONS

The number of months open for trading at a given time shall be determined by the Exchange. 

937102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

937102.B. Trading Unit 

The contract quantity shall be 5 megawatt hours (MWh). Each futures contract shall be valued as the 

contract quantity multiplied by the settlement price. 

937102.C. Off-Peak Days and Off-Peak Hours 

Peak day shall mean Monday through Saturday, excluding NERC holidays. Off-peak day shall mean 

Sundays and NERC holidays.

Off-peak hour shall mean from Hour Ending (HE) 2300-0600 Prevailing Pacific Time (PPT) on peak 

days, as well as HE 0100-2400 PPT on off-peak days.

937102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. There shall be no maximum price fluctuation. 

937102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

937102.F. Termination of Trading 

Trading shall cease on the second to last business day of the month before the contract month. At 

that time, a position in the Mid-Columbia Day-Ahead Off-Peak Calendar-Month 5 MW Futures (OMC) 

contract will be converted to a strip of Mid-Columbia Day-Ahead Off-Peak Calendar-Day 5 MW 

Futures (MXO) contracts. For example, in a 28-day month with 288 off-peak hours and no transition 

in or out of Daylight Savings Time, a position of 288 Mid-Columbia Day-Ahead Off-Peak CalendarMonth 5 MW Futures (OMC) contracts will be converted at the termination of trading to a position of 

eight (8) Mid-Columbia Day-Ahead Off-Peak Calendar-Day 5 MW Futures (MXO) contracts per 

weekday and Saturday in the contract month and twenty-four (24) Mid-Columbia Day-Ahead OffPeak Calendar-Day 5 MW Futures (MXO) contracts per Sunday (or holiday) in the contract month.
6

Chapter 938

Mid-Columbia Day-Ahead Off-Peak Calendar-Day 5 MW Futures

938100. SCOPE OF CHAPTER 

The provisions of these rules shall apply to all futures contracts bought or sold on the Exchange for 

cash settlement based on the Floating Price. The procedures for trading, clearing and cash 

settlement of this contract, and any other matters not specifically covered herein shall be governed 

by the general rules of the Exchange. 

938101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract day shall be equal to the final settlement price for the MidColumbia Day-Ahead Off-Peak Daily Fixed Price Future, as reported by the 

IntercontinentalExchange (ICE Futures U.S.). 

938102. TRADING SPECIFICATIONS

The number of days open for trading at a given time shall be determined by the Exchange. 

938102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

938102.B. Trading Unit 

The contract quantity shall be 5 Megawatt hours (MWh). Each futures contract shall be valued as the 

contract quantity multiplied by the settlement price. 

938102.C. Off-Peak Days and Off-Peak Hours 

Peak day shall mean Monday through Saturday, excluding North American Electric Reliability 

Corporation (NERC) holidays. Off-peak days shall mean Sundays and NERC holidays.

Off-peak hour shall mean from Hour Ending (HE) 2300-0600 Prevailing Pacific Time (PPT) on peak 

days, as well as HE 0100-2400 PPT on off-peak days.

938102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. 

938102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

938102.F. Termination of Trading 

Trading shall cease on the last business day prior to the contract day. 

938102.G. Payment Date 

Payment Date shall be three (3) business days following termination of trading. 

938103. FINAL SETTLEMENT 

Final settlement under the contract shall be by cash settlement. Final settlement, following the 

termination of trading for a contract day, will be based on the Floating Price. The final settlement 
7

price will be the Floating Price calculated for the contract day. Revisions to the final settlement price 

will be considered within three (3) business days following the termination of trading if ICE Futures 

U.S. revises the final settlement price for its Mid-Columbia Day-Ahead Off-Peak Daily Fixed Price 

Future. Revisions to the final settlement price will not be considered after the third business day 

following the termination of trading.

Chapter 939

Palo Verde Day-Ahead Peak Calendar-Month 5 MW Futures

939100. SCOPE OF CHAPTER 

This chapter is limited in application to trading of Palo Verde Day-Ahead Peak Calendar-Month 5 

MW Futures (PVD). 

939101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract month shall be equal to the final settlement price for the Palo 

Verde Day-Ahead Peak Fixed Price Future, as reported by the IntercontinentalExchange (ICE 

Futures U.S.). 

939102. TRADING SPECIFICATIONS

The number of months open for trading at a given time shall be determined by the Exchange. 

939102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

939102.B. Trading Unit 

The contract quantity shall be 80 megawatt hours (MWh) based on a flow rate of 5 Megawatts (MW) 

per peak hour on peak days. Each futures contract shall be valued as the contract quantity multiplied 

by the settlement price. 

939102.C. Peak Days and Peak Hours 

Peak day shall mean Monday through Saturday, excluding North American Electric Reliability 

Corporation (NERC) holidays.

Peak hour shall mean from Hour Ending (HE) 0700-2200 Prevailing Pacific Time (PPT) on peak 

days.

939102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. There shall be no maximum fluctuation. 

939102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

939102.F. Termination of Trading 

Trading shall cease on the second to last business day of the month before the contract month. At 

that time, a position in the Palo Verde Day-Ahead Peak Calendar-Month 5 MW Futures (PVD) 

contract will be converted to a strip of Palo Verde Day-Ahead Peak Calendar-Day 5 MW Futures 

(VDP) contracts. For example, in a twenty-six (26) peak-day month, a position of twenty-six (26) 

Palo Verde Day-Ahead Peak Calendar-Month 5 MW Futures (PVD) contracts will be converted at 
8

the termination of trading to a position of one (1) Palo Verde Day-Ahead Peak Calendar-Day 5 MW 

Futures (VDP) contract per peak day in the contract month.

Chapter 940

Palo Verde Day-Ahead Peak Calendar-Day 5 MW Futures

940100. SCOPE OF CHAPTER 

The provisions of these rules shall apply to all futures contracts bought or sold on the Exchange for 

cash settlement based on the Floating Price. The procedures for trading, clearing and cash 

settlement of this contract, and any other matters not specifically covered herein shall be governed 

by the general rules of the Exchange. 

940101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract day shall be equal to the final settlement price for the Palo Verde 

Day-Ahead Peak Daily Fixed Price Future, as reported by the IntercontinentalExchange (ICE Futures 

U.S.). 

940102. TRADING SPECIFICATIONS

The number of days open for trading at a given time shall be determined by the Exchange. 

940102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

940102.B. Trading Unit 

The contract quantity shall be 80 Megawatt hours (MWh) based on a flow rate of 5 Megawatts (MW) 

per peak hour on the specified peak day. Each futures contract shall be valued as the contract 

quantity multiplied by the settlement price. 

940102.C. Peak Days and Peak Hours 

Peak day shall mean Monday through Saturday, excluding North American Electric Reliability 

Corporation (NERC) holidays.

Peak hour shall mean from Hour Ending (HE) 0700-2200 Prevailing Pacific Time (PPT) on peak 

days.

940102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. 

940102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

940102.F. Termination of Trading 

Trading shall cease on the last business day prior to the contract day. 

940102.G. Payment Date 

Payment Date shall be three (3) business days following termination of trading. 

940103. FINAL SETTLEMENT 
9

Final settlement under the contract shall be by cash settlement. Final settlement, following the 

termination of trading for a contract day, will be based on the Floating Price. The final settlement 

price will be the Floating Price calculated for the contract day. Revisions to the final settlement price 

will be considered within three (3) business days following the termination of trading if ICE Futures 

U.S. revises the final settlement price for its Palo Verde Day-Ahead Peak Daily Fixed Price Future. 

Revisions to the final settlement price will not be considered after the third business day following the 

termination of trading.

Chapter 941

Palo Verde Day-Ahead Off-Peak Calendar-Month 5 MW Futures

941100. SCOPE OF CHAPTER 

This chapter is limited in application to trading of Palo Verde Day-Ahead Off-Peak Calendar-Month 

5 MW Futures (OVD). 

941101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract month shall be equal to the final settlement price for the Palo 

Verde Day-Ahead Off-Peak Fixed Price Future, as reported by the IntercontinentalExchange (ICE 

Futures U.S.). 

941102. TRADING SPECIFICATIONS

The number of months open for trading at a given time shall be determined by the Exchange. 

941102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

941102.B. Trading Unit 

The contract quantity shall be 5 megawatt hours (MWh). Each futures contract shall be valued as the 

contract quantity multiplied by the settlement price. 

941102.C. Off-Peak Days and Off-Peak Hours 

Peak day shall mean Monday through Saturday, excluding NERC holidays. Off-peak day shall mean 

Sundays and NERC holidays.

Off-peak hour shall mean from Hour Ending (HE) 2300-0600 Prevailing Pacific Time (PPT) on peak 

days, as well as HE 0100-2400 PPT on off-peak days.

941102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. There shall be no maximum price fluctuation. 

941102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

941102.F. Termination of Trading 

Trading shall cease on the second to last business day of the month before the contract month. At 

that time, a position in the Palo Verde Day-Ahead Off-Peak Calendar-Month 5 MW Futures (OVD) 

contract will be converted to a strip of Palo Verde Day-Ahead Off-Peak Calendar-Day 5 MW Futures 

(QVD) contracts. For example, in a 28-day month with 288 off-peak hours and no transition in or out 

of Daylight Savings Time, a position of 288 Palo Verde Day-Ahead Off-Peak Calendar-Month 5 MW 
10

Futures (OVD) contracts will be converted at the termination of trading to a position of eight (8) Palo 

Verde Day-Ahead Off-Peak Calendar-Day 5 MW Futures (QVD) contracts per weekday and Saturday 

in the contract month and twenty-four (24) Palo Verde Day-Ahead Off-Peak Calendar-Day 5 MW 

Futures (QVD) contracts per Sunday (or holiday) in the contract month.

Chapter 942

Palo Verde Day-Ahead Off-Peak Calendar-Day 5 MW Futures

942100. SCOPE OF CHAPTER 

The provisions of these rules shall apply to all futures contracts bought or sold on the Exchange for 

cash settlement based on the Floating Price. The procedures for trading, clearing and cash 

settlement of this contract, and any other matters not specifically covered herein shall be governed 

by the general rules of the Exchange. 

942101. CONTRACT SPECIFICATIONS 

The Floating Price for each contract day shall be equal to the final settlement price for the Palo Verde 

Day-Ahead Off-Peak Daily Fixed Price Future, as reported by the IntercontinentalExchange (ICE 

Futures U.S.).

942102. TRADING SPECIFICATIONS

The number of days open for trading at a given time shall be determined by the Exchange. 

942102.A. Trading Schedule 

The hours of trading for this contract shall be determined by the Exchange. 

942102.B. Trading Unit 

The contract quantity shall be 5 Megawatt hours (MWh). Each futures contract shall be valued as the 

contract quantity multiplied by the settlement price. 

942102.C. Off-Peak Days and Off-Peak Hours 

Peak day shall mean Monday through Saturday, excluding North American Electric Reliability 

Corporation (NERC) holidays. Off-peak day shall mean Sundays and NERC holidays.

Off-peak hour shall mean from Hour Ending (HE) 2300-0600 Prevailing Pacific Time (PPT) on peak 

days, as well as HE 0100-2400 PPT on off-peak days.

942102.D. Price Increments 

Prices shall be quoted in U.S. dollars and cents per MWh. The minimum price fluctuation shall be 

$0.01 per MWh. 

942102.E. Position Limits, Exemptions, Position Accountability and Reportable Levels 

The applicable position limits and/or accountability levels, in addition to the reportable levels, are set 

forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations 

& Special Notices Section of Chapter 5.

A Person seeking an exemption from position limits for bona fide commercial purposes shall apply 

to the Market Regulation Department on forms provided by the Exchange, and the Market Regulation 

Department may grant qualified exemptions in its sole discretion. 

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable 

exemptions from the specified position limits. 

942102.F. Termination of Trading 

Trading shall cease on the last business day prior to the contract day. 

942102.G. Payment Date 

Payment Date shall be three (3) business days following termination of trading. 

942103. FINAL SETTLEMENT 
11

Final settlement under the contract shall be by cash settlement. Final settlement, following the 

termination of trading for a contract day, will be based on the Floating Price. The final settlement 

price will be the Floating Price calculated for the contract day. Revisions to the final settlement price 

will be considered within three (3) business days following the termination of trading if ICE Futures 

U.S. revises the final settlement price for its Palo Verde Day-Ahead Off-Peak Daily Fixed Price 

Future. Revisions to the final settlement price will not be considered after the third business day 

following the termination of trading.
12

EXHIBIT B

NYMEX Rulebook

Chapter 5

(“Trading Qualifications and Practices”)

Position Limit, Position Accountability, and Reportable Level Table

(attached under separate cover)