Option on Carbon Financial Instrument, United States, Future10326376

Description

An Option on the corresponding month of the Carbon Financial Instrument, United States, Future.

Market Specifications

Trading Screen Product Name
CFI-US Futures
Trading Screen Hub Name
CFI-US
Commodity Code
CFS
Settlement Method
Exercise into Underlying Futures Contract
Contract Size
1 Carbon Financial Instrument, United States, Futures Contract
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per metric ton; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle
1. Standard-cycle contract listings: Annual December expiration for the current year and forward three years.

2. The Exchange may list any other calendar month contract sets off the standard-cycle listing schedule through the last expiring contract set.
Strike Price Intervals
A minimum of ten Strike Prices in increments of $1.00 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 $1.00 increments
Last Trading Day
At 4:00pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the delivery month.
Option Style
European
Exercise Method
Automatic
Exercise Procedure
Clearing Members shall provide exercise and abandon instructions to the Clearing Organization in accordance with the Clearing Organization rules
Exercise Time
5:30 pm EPT on the Last Trading Day
MIC Code
IFED
Clearing Venues
ICEU