Summary of PAM Futures Contracts


Three types of futures contracts will be offered on PAM:

When trading starts on October 1, 2003, there will be contracts of the first two types that mature at the end of the 4th quarter 2003, 1st 2004, 2nd 2004, and 3rd 2004. On January 1, 2004, contracts that mature at the end of the 4th quarter 2004 will be issued. In this way, the forward view of PAM will be maintained at one year.

Contracts of the third type will be issued into PAM as specific potential events of interest are identified.

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