NODAL EXCHANGE CONTRACT SPECIFICATIONS

MISO AMIL.GBCM Monthly Day Ahead On-Peak Power Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Power, MISO AMIL.GBCM, Day Ahead

Contract Code AXE

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, based on 1 MW for each hour of the contract

Lot Size

Variable, expressed in megawatt hour (MWh). The Lot Size will equal 1 MW 

multiplied by the number of On-Peak hours within the month traded, so in a month 

with 332 On-Peak hours, the Lot Size equals 332 MWh. The definition of On-Peak 

hours is Hour Ending (HE) 0700 – 2200 Monday through Friday, EST, during Daylight 

Saving Time; for the rest of the year, On-Peak hours are 0800 – 2300, EST. All NERC 

Holidays are excluded.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 69 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the Day 

Ahead hourly Ex Post LMP for all On-Peak hours. These price files can be found at the 

following link or at successor location. 

https://www.misoenergy.org/Library/Repository/Market 

Reports/<yyyymmdd>_da_expost_lmp.csv

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATIONS

MISO AMIL.GBCM Monthly Day Ahead Off-Peak Power Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial Off-Peak Power, MISO AMIL.GBCM, Day Ahead

Contract Code AXF

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, based on 1 MW for each hour of the contract

Lot Size

Variable, expressed in megawatt hour (MWh). The Lot Size will equal 1 MW 

multiplied by the number of Off-Peak hours within the month traded, so in a month 

with 400 Off-Peak hours, the Lot Size equals 400 MWh. The definition of Off-Peak 

hours is Hour Ending (HE) 0100 – 0600 and 2300-2400, Monday through Friday, EST, 

and all hours for Saturday, Sunday, and all NERC Holidays during Daylight Saving 

Time. No hours will be added or subtracted due to DST adjustments. For the rest of 

the year, Off-Peak hours include 0100– 0700 and 2400, EST, and all hours for 

Saturday, Sunday and all NERC Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 69 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the Day 

Ahead hourly Ex Post LMP for all Off-Peak hours. These price files can be found at 

the following link or at successor location. 

https://www.misoenergy.org/Library/Repository/Market 

Reports/<yyyymmdd>_da_expost_lmp.csv

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars