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The document outlines the self-certification of rules and terms for NFX NYISO Day-Ahead Power Financial Futures, submitted to the Commodity Futures Trading Commission for approval under the Commodity Exchange Act.
Year:
2016
Region / City:
Washington, DC
Theme:
Financial Futures Contracts
Document Type:
Regulatory Filing
Organization / Institution:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Commodity Futures Trading Commission, NASDAQ Futures, Inc., and market participants
Effective Date:
December 6, 2016
Amendment Date:
N/A
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Document Type:
Exchange rulebook appendix
Appendix:
Appendix A – Listed Contracts
Chapter:
331
Product Name:
NFX NYISO Zone A Day-Ahead Peak Financial Futures
Symbol:
NAYQ
Exchange:
NASDAQ Futures, Inc.
Related Organization:
New York Independent System Operator
Market:
Power Contracts – NYISO Zone A
Contract Type:
Cash-settled financial futures
Unit of Trading:
800 MWh per contract
Price Quotation:
U.S. dollars and cents per MWh
Minimum Price Increment:
$0.01 per MWh ($8.00 per contract)
Trading Termination:
5:00 PM EPT on the last business day of the contract month
Final Settlement:
Cash settlement in U.S. dollars based on NYISO Day-Ahead hourly Peak LBMP averages
Block Trade Minimum:
5 contracts
Reporting Window:
Fifteen minutes
Order Price Limits:
$2.00 above and below the Reference Price
Non-Reviewable Range:
$2.00 above and below the true market price
Disclaimer:
Limitation of liability and warranty disclaimer by NFX and NYISO
Organization:
California Department of Water Resources
Acronym:
CDWR
Initiative:
Day-Ahead Market Enhancements (DAME)
Market:
CAISO Day-Ahead Market
Related Market Products:
Imbalance Reserves (IR); Reliability Capacity (RC); Market Power Mitigation (MPM)
Related Institutions:
CAISO; WEIM Governing Body
Relevant Documents:
Draft Final Proposal (published December 1, 2022); Tariff Section 40.6.4.2; BPM of Reliability Requirements Section 7.1.1
Stakeholder Call Date:
December 7, 2022
Position:
Support
Key Issues:
Resource Adequacy (RA) bidding requirements; RUC availability bids; CRR Balancing Account; contingency constraints under Track 1B proposal
Proposed Default Bid:
$55/MWh for IR and RC
IR Bid Cap:
$247/MWh
RC Bid Cap:
$250/MWh
Document Type:
Exchange rulebook appendix
Appendix:
Appendix A – Listed Contracts
Chapter:
331
Product Name:
NFX NYISO Zone A Day-Ahead Peak Financial Futures
Symbol:
NAYQ
Exchange:
NASDAQ Futures, Inc.
Related Organization:
New York Independent System Operator
Market:
Power Contracts – NYISO Zone A
Contract Type:
Cash-settled financial futures
Unit of Trading:
800 MWh per contract
Price Quotation:
U.S. dollars and cents per MWh
Minimum Price Increment:
$0.01 per MWh ($8.00 per contract)
Trading Termination:
5:00 PM EPT on the last business day of the contract month
Final Settlement:
Cash settlement in U.S. dollars based on NYISO Day-Ahead hourly Peak LBMP averages
Block Trade Minimum:
5 contracts
Reporting Window:
Fifteen minutes
Order Price Limits:
$2.00 above and below the Reference Price
Non-Reviewable Range:
$2.00 above and below the true market price
Disclaimer:
Limitation of liability and warranty disclaimer by NFX and NYISO
Organization:
National Grid Meter Data Services (MDS)
Region:
Upstate New York
Market Operator:
New York Independent System Operator (NYISO)
Subject:
Installed Capacity (ICAP) estimation and reporting methodology
Reporting Frequency:
Monthly
Peak Load Year:
2023
NYCA Peak Date and Hour:
July 28, 2023, Hour Ending 18:00
Reporting Year Beginning:
May 1, 2024
Regulatory Reference:
New York State Department of Public Service Case 17-E-028 (2017)
Applicable Entities:
Load Serving Entities (LSEs), Energy Service Companies (ESCOs), Suppliers
Customer Categories:
Interval-Metered MHP Customers; Load-Profiled Customers
Key Factors:
Weather Sensitivity Factor (WSF); System Peak Factor; Voltage Level Loss Factor
Associated Programs:
NYPA ICAP Allocations
System:
NYISO ICAP Automated Market System (AMS)
Document Type:
Technical methodology document
Year:
1997
Region / City:
New York State
Subject:
Electrical transmission, energy market, and operational definitions
Document Type:
Tariff / Regulatory Document
Organization:
New York Independent System Operator (NYISO)
Author:
NYISO
Target Audience:
Transmission customers, energy market participants, regulatory bodies
Effective Period:
From January 31, 1997
Amendments:
As per ISO Procedures and subsequent attachments
Scope:
Definitions of zones, transmission capacity, energy bidding, emergency protocols, and customer eligibility
Market Components:
Day-Ahead Market, Real-Time LBMP, TCC Auctions, EDRP/SCR load reductions
Regulatory References:
Federal Power Act Section 212(h)
Year:
2015
Note:
Region / City
Topic:
Financial Markets, Futures, Block Trades
Document Type:
Reference Guide
Organization:
Nasdaq Futures, Inc.
Target Audience:
Entities engaging in futures and block trades
Year:
2017
Region / City:
Washington, DC
Subject:
Commodity Futures Trading
Document Type:
Certification
Organization / Institution:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Market participants, futures traders
Period of Validity:
Starting April 26, 2017
Approval Date:
April 10, 2017
Date of Amendments:
April 10, 2017
Document Type:
Exchange rulebook appendix
Appendix:
Appendix A – Listed Contracts
Chapter:
331
Product Name:
NFX NYISO Zone A Day-Ahead Peak Financial Futures
Symbol:
NAYQ
Exchange:
NASDAQ Futures, Inc.
Related Organization:
New York Independent System Operator
Market:
Power Contracts – NYISO Zone A
Contract Type:
Cash-settled financial futures
Unit of Trading:
800 MWh per contract
Price Quotation:
U.S. dollars and cents per MWh
Minimum Price Increment:
$0.01 per MWh ($8.00 per contract)
Trading Termination:
5:00 PM EPT on the last business day of the contract month
Final Settlement:
Cash settlement in U.S. dollars based on NYISO Day-Ahead hourly Peak LBMP averages
Block Trade Minimum:
5 contracts
Reporting Window:
Fifteen minutes
Order Price Limits:
$2.00 above and below the Reference Price
Non-Reviewable Range:
$2.00 above and below the true market price
Disclaimer:
Limitation of liability and warranty disclaimer by NFX and NYISO
Year:
2017
Region / City:
Washington, DC
Topic:
Financial Futures Contracts
Document Type:
Certification
Organization / Institution:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Futures traders, financial professionals
Period of Validity:
Starting June 28, 2017
Approval Date:
June 15, 2017
Date of Amendments:
June 15, 2017
Document Number:
SR-NFX-2020-06
Exhibit:
A
Title:
List of Futures and Futures Options Contracts Being De-Listed from NFX
Type of Document:
Regulatory filing exhibit
Subject:
De-listing of energy futures and futures options contracts
Market:
NFX
Asset Classes:
Refined Products; Power Products
Referenced Rulebook:
Rulebook Appendix A
Content:
Contract names, trading symbols, and corresponding chapter numbers
Year:
2017
Region / City:
Washington, DC
Subject:
Financial Futures
Document Type:
Rule Certification
Organization / Institution:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Financial Market Participants
Effective Date:
April 26, 2017
Amendment Date:
N/A
Year:
2017
Region / City:
Washington, DC
Theme:
Commodity Futures Trading
Document Type:
Rule Certification
Organization / Institution:
Commodity Futures Trading Commission (CFTC)
Author:
Christopher J. Kirkpatrick
Target Audience:
Commodity Futures Traders, Market Participants
Effective Date:
April 26, 2017
Amendment Date:
April 10, 2017
Year:
2017
Region / City:
Washington, DC
Topic:
Commodity Futures Trading
Document Type:
Certification
Organization:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Market Participants, Regulatory Authorities
Effective Period:
From April 26, 2017
Approval Date:
April 10, 2017
Amendment Date:
None
Confidentiality Request:
Yes (Exhibit C)
Contract Listing:
NFX PJM Zonal Financial Futures
Contract Symbols:
PZVQ, PAVQ, PAAQ, PZOQ, PAWQ, OPPQ, PZAQ, PSAQ, PSSQ, PZGQ, PSBQ, OSSQ, PZJQ, JCBQ, PJJQ, PZLQ, JCDQ, OLLQ, PZPQ, PPFQ, PPPQ, PZCQ, PPHQ, OZZQ, PZEQ, PCPQ, PCCQ, PZIQ, PCOQ, OXXQ
Exhibits:
A, B, C
Regulatory Compliance:
Yes
Market Surveillance:
Yes
Core Principles:
Compliance, Prevention of Manipulation, Market Disruption
Market Monitoring:
SMARTS Surveillance Application
Year:
2017
Region / City:
Washington, DC
Topic:
Financial Futures Contracts
Document Type:
Certification
Institution:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Industry Professionals, Market Participants
Period of Validity:
From April 26, 2017
Approval Date:
April 10, 2017
Date of Changes:
None
Description:
Detailed certification for the introduction of new NFX PJM Zonal Financial Futures contracts, including terms, conditions, and amendments to existing rules.
Date:
April 10, 2017
Reference File:
SR-NFX-2017-11
Sender:
NASDAQ Futures, Inc. (NFX)
Recipient:
Christopher J. Kirkpatrick, Office of the Secretariat, Commodity Futures Trading Commission
Address:
Three Lafayette Center, 1155 21st Street, NW, Washington, DC 20581
Legal Basis:
Section 5c(c)(1) of the Commodity Exchange Act and Sections 40.2 and 40.6 of the Commission’s regulations
Subject:
Product Certification and Rule Certification for New NFX PJM Zonal Financial Futures
Type of Document:
Rule self-certification letter
Contracts Covered:
NFX PJM ATSI, PSEG, JCPL, PEPCO, and PECO Zone Day-Ahead Peak and Off-Peak Financial Futures and Mini Financial Futures
Listing Date:
April 26, 2017
Trade Date:
April 27, 2017
Settlement Type:
Monthly cash-settled futures contracts
Underlying Reference:
PJM Day-Ahead locational marginal prices (LMPs)
Position Limits:
As set forth in Rulebook Appendix B
Regulatory Oversight:
Commodity Futures Trading Commission; National Futures Association; Federal Energy Regulatory Commission
Confidential Exhibit:
Cash market description and deliverable supply analysis submitted under FOIA confidential treatment request
Date:
April 10, 2017
Reference File:
SR-NFX-2017-11
Type of Document:
Rule Self-Certification Letter
Subject:
Product Certification and Rule Certification for New NFX PJM Zonal Financial Futures
Submitting Organization:
NASDAQ Futures, Inc.
Regulatory Authority:
Commodity Futures Trading Commission
Recipient:
Christopher J. Kirkpatrick, Office of the Secretariat
Legal Basis:
Section 5c(c)(1) of the Commodity Exchange Act; Commission Regulations 40.2 and 40.6
Contracts Covered:
NFX PJM ATSI, PSEG, JCPL, PEPCO, and PECO Zone Day-Ahead Peak and Off-Peak Financial Futures (including Mini contracts)
Settlement Type:
Cash-settled
Underlying Reference:
Day-Ahead locational marginal prices (LMPs) published by PJM Interconnection
Listing Date:
April 26, 2017
First Trade Date:
April 27, 2017
Position Limits:
As set forth in Rulebook Appendix B
Confidential Treatment Request:
Exhibit C submitted under FOIA
Year:
2017
Region / City:
Washington, DC
Topic:
Financial Futures Contracts
Document Type:
Rule Certification
Organization / Institution:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Regulatory Authorities, Financial Market Participants
Period of Validity:
Effective April 26, 2017
Approval Date:
April 10, 2017
Amendments Date:
N/A
Year:
2016
Organization:
NFX
Document Type:
Exchange program exhibit
Program Name:
NFX Energy DMM Program
Regulatory Reference:
SR-NFX-2016-27
Related Filing:
SR-NFX-2015-15
Regulatory Authority:
Commodity Futures Trading Commission
Subject:
Designated Market Maker appointments in energy futures and options
Products Covered:
Energy futures and options including crude oil, natural gas, gasoline, heating oil, and regional power hub financial futures and mini futures
Eligible Participants:
Designated Market Makers selected through prior solicitation
Program Term:
Expiring April 24, 2016
Incentive Structure:
Monthly incentive payments pursuant to individual agreements
Monitoring Authority:
NFX
Termination Conditions:
Failure to meet quoting, size, or eligibility requirements
Year:
2017
Region / City:
Washington, DC, USA
Subject:
Financial Futures, Electricity Markets
Document Type:
Regulatory Filing / Letter
Organization:
NASDAQ Futures, Inc.
Recipient:
Commodity Futures Trading Commission
Author:
Christopher J. Kirkpatrick
Target Audience:
Regulatory Authorities, Market Participants
Effective Date:
April 26, 2017
Contract Listing Date:
April 27, 2017
Reference File:
SR-NFX-2017-11
Covered Contracts:
NFX PJM ATSI, PSEG, JCPL, PEPCO, PECO Zone Day-Ahead Peak and Off-Peak Financial Futures
Contract Terms:
Cash-settled, Monthly, Block Trade Minimum Quantity 5 Contracts, Spot Month Position Limits per Exhibit B
Regulatory Compliance:
Core Principles 2, 3, 4 under Commodity Exchange Act
Market Oversight:
NFX Regulation, National Futures Association, Federal Energy Regulatory Commission
Exhibits Included:
Rulebook Amendments (Appendices A & B), Cash Market Description and Deliverable Supply Analysis (Exhibit C)
Confidentiality Request:
Exhibit C under FOIA