Nodal Exchange

Contracts

Nodal Exchange offers power contracts at commercially significant hubs, zones and nodes in the following power markets: ISO-NE, NYISO, PJM, MISO and CAISO. Nodal Exchange offers futures contracts settling against Day Ahead LMP on ~1,800 hubs, zones and nodes during weekly auctions and on 88 hubs and zones during daily auctions. Nodal Exchange offers monthly term contracts, including current month, prompt month, and prompt month plus 1-11 on all weekly and daily locations. Additionally, Nodal Exchange offers a forward 48 months on the 88 locations (176 peak and off-peak contracts) available in the daily auctions.

Nodal Exchange also offers 8 contracts that settle against Real Time LMP. With these contracts, Participants are able to trade Real Time LMP on Nodal Exchange as well as Day Ahead / Real Time spreads (DARTs). The Real Time contracts are available 48 months forward with the first expiry offered for June 2010. These contracts settle against four locations: PJM Western Hub, PJM AEP-Dayton Hub, PJM Northern Illinois Hub, and MISO Cinergy Hub, and are available for both peak and off-peak time periods.

These documents are available using a Nodal Exchange provided login and password. Please contact Account Management at or 703-962-9820 for information.