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ICE Futures Europe

UKA Futures

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Description

The UKA Futures Contract is a deliverable contract where each Clearing Member with a position open at cessation of trading for a contract month is obliged to make or take delivery of UK Allowances (UKAs) to or from the UK Emissions Trading Registry in accordance with the ICE Futures Europe Regulations.

Market Specifications

Trading Screen Product Name
UKA Futures
Trading Screen Hub Name
UKA
Contract Symbol
UKA
Contract Series
Up to 3 December, up to 3 March and up to 3 monthly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond 2030.
Contract Size
1000 Allowances
Unit of Trading
One lot of 1,000 UK Allowances (UKA). Each UKA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations.
Minimum Trading Size
Futures: 1 lot = 1,000 Allowances
Block Order: 10 lots = 10,000 Allowances
Markers
Price Quotation
The contract price is in Pound Sterling and pence per metric tonne.
Minimum Price Fluctuation
GBP 0.01
Tick Value
GBP 0.01 per tonne (i.e. £10.00 per lot).
Last Trading Day
Trading will cease on the last Monday of the contract month. However, if the last Monday is a Non-Business Day or there is a Non-Business Day in the 4 days following the last Monday, the last day of trading will be the penultimate Monday of the delivery month.
Settlement Method
Physical Delivery
End of Day Settlement Price
Trade weighted average during the daily settlement period (16:05 – 16:15 UK Local Time) with Quoted Settlement Prices if low liquidity. The settlement price will become the Exchange Delivery Settlement Price (EDSP).
Delivery Terms
The Contracts are physically deliverable by the transfer of UK Allowances from an acceptable account of the Selling Clearing Member at the UK Emissions Trading Registry to the specified account of ICE Clear Europe at the UK Emissions Trading Registry and from the account of ICE Clear Europe at the UK Emissions Trading Registry to an acceptable account of the Buying Clearing Member at the UK Emissions Trading Registry. Delivery takes place 3 days after the last trading day.
Exchange Rulebook
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
01:45
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
06:45
Singapore2:00 PM - 12:00 AM
14:00 - 00:00
1:45 PM
13:45

Codes

Clearing Admin Name
UKA
Physical
UKA
Logical
UKA
GMI (FC)
ION A.C.N.
Symbol Code
UKA