EUA Phase 3 Daily Futures18709519

Description

The EUA Phase 3 Daily 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 Phase 3 EUAs to or from a Registry in accordance with the ICE Futures Europe Regulations (Regulations).

Market Specifications

Trading Screen Product Name
EUA Phase 3 Daily Futures
Trading Screen Hub Name
EUA Phase 3 Daily
Unit of Trading
One lot of 1000 Emission Allowances. Each Emission Allowance being an entitlement to emit one tonne of carbon dioxide equivalent gas during the relevant period.
Relevant Period
Phase 3 compliance period.
Commodity Code
ECP
Minimum Trading Size
1 lot.
Quotation
Euro (€) and Euro cent (c) per metric tonne.
Tick Size
€0.01 per tonne (i.e. €10.00 per lot).
Minimum Price Fluctuation
€0.01
Maximum Price Fluctuation
no limit
Contract Series
The Contract is a Daily Contract. Only one Daily Contract is listed at any one time
Trading System
Trading will occur on the ICE Futures Europe electronic trading platform known as the ICE Platform accessible via WebICE or through a conformed Independent Software Vendor
Trading Hours
07:00 hours to 17:00 hours UK Local Time.
Settlement Price
Trade weighted average during the daily closing period (16:50:00 – 16:59:59 UK Local Time) with Quoted Settlement Prices if low liquidity. The settlement price will become the Exchange Delivery Settlement Price (EDSP).
VAT & Taxes
UK's HM Revenue and Customs has confirmed that the trading of the ICE EUA Daily Futures Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order
Delivery Methods
The Contracts are physically deliverable by the transfer of Emission Allowances from an acceptable Trading Account of the Selling Clearing Member at the Union Registry to the specified Trading Account of ICE Clear Europe at the Union Registry and from the Trading Account of ICE Clear Europe at the Union Registry to an acceptable Trading Account of the Buying Clearing Member at the Union Registry.

The Delivery Period for Selling Clearing Members is the period beginning at 17:00 hours on the last trading day and ending at 15:00 hours on the business day following the last trading day. ICE Clear Europe will deliver to Buying Clearing Members by 15:00 on the second Business Day following the last trading day.
Clearing
ICE Clear Europe will act as central counterparty to all trades.
Contract Security
ICE Clear Europe guarantees the financial performance of the ICE Futures Europe contracts entered into in the name of its Clearing Members, in accordance with the Clearing Rules.
Other Information
Block Trades are available for this contract, with a minimum size of 50 lots. EFPs/EFSs are also available.
MIC Code
IFEU
Clearing Venues
ICEU
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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
Singapore3:00 PM - 1:00 AM
15:00 - 01:00
2:45 PM
14:45
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Codes

Clearing Admin Name
EUA P3 Daily
Physical
ECP
Logical
ECP
GMI(FC)
R&N A.C.N.