ICE Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future

A weekly cash settled Exchange Futures Contract based upon the mathematical average of peak hourly electricity prices published by PJM for the location specified in Reference Price A.
== Contract Specs ==
Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future	Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future 	Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future 	Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future
Trading Screen Product Name 	Peak Futures Weekly APO 	Peak Futures Weekly APO 	Peak Futures Weekly APO
Trading Screen Hub Name 	PJM WH RT 	PJM WH RT 	PJM WH RT
Contract Symbol 	PJH 	PJH 	PJH
Settlement Method 	Cash settlement 	Cash settlement 	Cash settlement
Contract Size 	800 MWh’s multiplied by the number of Peak days in the week 	800 MWh’s multiplied by the number of Peak days in the week 	800 MWh’s multiplied by the number of Peak days in the week
Currency 	USD 	USD 	USD
Minimum Price Fluctuation 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle 	Up to 52 consecutive weekly Contract Periods, or as otherwise determined by the Exchange 	Up to 52 consecutive weekly Contract Periods, or as otherwise determined by the Exchange 	Up to 52 consecutive weekly Contract Periods, or as otherwise determined by the Exchange
Last Trading Day 	At the end of the Trading Session on the last Business Day of the Contract Period 	At the end of the Trading Session on the last Business Day of the Contract Period 	At the end of the Trading Session on the last Business Day of the Contract Period
Final Settlement 	Reference Price A 	Reference Price A 	Reference Price A
REFERENCE PRICE A 	ELECTRICITY-PJM-WESTERN HUB-REAL TIME 	ELECTRICITY-PJM-WESTERN HUB-REAL TIME 	ELECTRICITY-PJM-WESTERN HUB-REAL TIME
a) Ref Price A - Description 	“ELECTRICITY-PJM-WESTERN HUB-REAL TIME” means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM http://pjm.com/markets-and-operations/energy/real-time/lmp.aspx , under the Headings “Daily Real-Time Locational Marginal Pricing(LMP): LMP Real-Time Data: WESTERN HUB” or any successor headings, that reports Prices effective on the Pricing Date	“ELECTRICITY-PJM-WESTERN HUB-REAL TIME” means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM http://pjm.com/markets-and-operations/energy/real-time/lmp.aspx , under the Headings “Daily Real-Time Locational Marginal Pricing(LMP): LMP Real-Time Data: WESTERN HUB” or any successor headings, that reports Prices effective on the Pricing Date	“ELECTRICITY-PJM-WESTERN HUB-REAL TIME” means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM http://pjm.com/markets-and-operations/energy/real-time/lmp.aspx , under the Headings “Daily Real-Time Locational Marginal Pricing(LMP): LMP Real-Time Data: WESTERN HUB” or any successor headings, that reports Prices effective on the Pricing Date
b) Ref Price A - Pricing Date 	Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date 	Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date 	Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date
c) Ref Price A - Specified Price 	Average of LMPs for all hours ending 0800-2300 EPT 	Average of LMPs for all hours ending 0800-2300 EPT 	Average of LMPs for all hours ending 0800-2300 EPT
d) Ref Price A - Pricing calendar 	PJM 	PJM 	PJM
e) Ref Price A - Delivery Date 	Contract Period 	Contract Period 	Contract Period
Final Payment Date 	The second Clearing Organization business day following the Last Trading Day 	The second Clearing Organization business day following the Last Trading Day 	The second Clearing Organization business day following the Last Trading Day
MIC Code 	IFED 	IFED 	IFED
Clearing Venues 	ICEU 	ICEU 	ICEU
Codes 	Clearing Admin Name 	Pwr East Daily 	Pwr East Daily
Codes 	Physical 	PJH 	PJH
Codes 	Logical 	PJH 	PJH
Codes 	GMI (FC) 	J2 	J2
Codes 	ION A.C.N. 	None 	None
Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future	Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future 	Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future 	Weekly Average Price on PJM Western Hub Real-Time Peak Fixed Price Future
Trading Screen Product Name 	Peak Futures Weekly APO 	Peak Futures Weekly APO 	Peak Futures Weekly APO
Trading Screen Hub Name 	PJM WH RT 	PJM WH RT 	PJM WH RT
Contract Symbol 	PJH 	PJH 	PJH
Settlement Method 	Exercise into Underlying Futures Contract 	Exercise into Underlying Futures Contract 	Exercise into Underlying Futures Contract
Contract Size 	800 MWh’s multiplied by the number of Peak days in the week 	800 MWh’s multiplied by the number of Peak days in the week 	800 MWh’s multiplied by the number of Peak days in the week
Currency 	USD 	USD 	USD
Minimum Price Fluctuation 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle 	Up to 52 consecutive weekly Contract Periods, or as otherwise determined by the Exchange 	Up to 52 consecutive weekly Contract Periods, or as otherwise determined by the Exchange 	Up to 52 consecutive weekly Contract Periods, or as otherwise determined by the Exchange
Last Trading Day 	At the end of the Trading Session on the last Business Day of the Contract Period 	At the end of the Trading Session on the last Business Day of the Contract Period 	At the end of the Trading Session on the last Business Day of the Contract Period
Option Style 	European 	European 	European
Exercise 	Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of the Reference Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money" expire automatically.
Exercise Day: The second Clearing Organization business day following the Last Trading Day 	Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of the Reference Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money" expire automatically.
Exercise Day: The second Clearing Organization business day following the Last Trading Day 	Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to the average of the Reference Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money" expire automatically.
Exercise Day: The second Clearing Organization business day following the Last Trading Day
REFERENCE PRICE A 	ELECTRICITY-PJM-WESTERN HUB-REAL TIME 	ELECTRICITY-PJM-WESTERN HUB-REAL TIME 	ELECTRICITY-PJM-WESTERN HUB-REAL TIME
a) Ref Price A - Description 	“ELECTRICITY-PJM-WESTERN HUB-REAL TIME” means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM http://pjm.com/markets-and-operations/energy/real-time/lmp.aspx , under the Headings “Daily Real-Time Locational Marginal Pricing(LMP): LMP Real-Time Data: WESTERN HUB” or any successor headings, that reports Prices effective on the Pricing Date	“ELECTRICITY-PJM-WESTERN HUB-REAL TIME” means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM http://pjm.com/markets-and-operations/energy/real-time/lmp.aspx , under the Headings “Daily Real-Time Locational Marginal Pricing(LMP): LMP Real-Time Data: WESTERN HUB” or any successor headings, that reports Prices effective on the Pricing Date	“ELECTRICITY-PJM-WESTERN HUB-REAL TIME” means that the price for a Pricing Date will be that day’s Specified Price per MWh of electricity for Delivery on the Delivery Date, stated in U.S. Dollars, published by the PJM http://pjm.com/markets-and-operations/energy/real-time/lmp.aspx , under the Headings “Daily Real-Time Locational Marginal Pricing(LMP): LMP Real-Time Data: WESTERN HUB” or any successor headings, that reports Prices effective on the Pricing Date
b) Ref Price A - Pricing Date 	Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date 	Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date 	Each Monday through Friday, excluding NERC holidays, that prices are reported for the Delivery Date
c) Ref Price A - Specified Price 	Average of LMPs for all hours ending 0800-2300 EPT 	Average of LMPs for all hours ending 0800-2300 EPT 	Average of LMPs for all hours ending 0800-2300 EPT
d) Ref Price A - Pricing calendar 	PJM 	PJM 	PJM
e) Ref Price A - Delivery Date 	Contract Period 	Contract Period 	Contract Period
Strike Price Listing Provisions 	A minimum of ten Strike Prices in increments of $0.50 per MWh above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.05 increments. 	A minimum of ten Strike Prices in increments of $0.50 per MWh above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.05 increments. 	A minimum of ten Strike Prices in increments of $0.50 per MWh above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.05 increments.
MIC Code 	IFED 	IFED 	IFED
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	7:50 PM - 6:00 PM*
19:50 - 18:00 	7:40 PM
19:40
Trading Hours 	LONDON 	12:50 AM - 11:00 PM*
00:50 - 23:00 	12:40 AM
00:40
Trading Hours 	SINGAPORE 	7:50 AM - 6:00 AM*
07:50 - 06:00 	7:40 AM
07:40
Trading Hours 	*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday 	*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday 	*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes 	Clearing Admin Name 	Pwr East Daily 	Pwr East Daily
Codes 	Physical 	PJH 	PJH
Codes 	Logical 	PJH 	PJH
Codes 	GMI (FC) 	J2 	J2
Codes 	ION A.C.N. 	None 	None
== Notes ==
== References ==
UK Natural Gas Contract Specs
== Resources ==
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