ICE Futures Europe

EUAA UK Auction

EUAA UK Auction18997865


The ICE EUAA Auction Contract is a deliverable contract where each Clearing Member who is allocated lots in the auction is obliged to take delivery of Phase 3 EUAAs from the Registry in accordance with the ICE Futures Europe Regulations.

Market Specifications

Trading Screen Product Name
EUAA UK Auction 500
Trading Screen Hub Name
Commodity Code
Contract Size
500 EUA
Unit of Trading
One lot of five hundred (500) European Union Aviation Allowances (EUAA). Each Emission Allowance being an entitlement to emit one tonne of carbon dioxide equivalent gas in Phase 3 of the EU ETS.
Minimum Trading Size
1 lot.
Euro (€) and Euro cent (c) per metric tonne.
Settlement Price Quotation
Euro (€) and Euro cent (c) per metric tonne.
Minimum Price Fluctuation
Euro 0.01
Maximum Price Fluctuation
There are no limits.
Contract Series
The Contract is a Daily Contract. Only one Daily Contract is listed at any one time.
Contracts will expire on a daily basis and only one contract will be listed at any one time.
Contract Security
ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement
Position Limit
Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate.
Trading System
Trading will occur on the ICE Futures Europe electronic trading platform known as the ICE Platform accessible via Web ICE or through a conformed Independent Software Vendor.
Trading Hours
08:00 hours to 10:00 hours Local London Time
Additional Information
The Auction Clearing Price will be determined upon closure of the bidding window. Bids shall be sorted in order of the price bid and added up starting with the highest bid. The price of the bid at which the sum of the volumes bid matches the volume of the allowances auctioned shall be the Auction Clearing Price. Tied bids shall be sorted at random. All bidders shall pay the Auction Clearing Price.
Settlement Date
One business day following the Last Trading Date.
Transfer follows receipt of full contract value by ICE Clear Europe and occurs within at T+2.
Final Payment Date
One business day following the Last Trading Date.
Business Days
Shall be the same as the ICE EUA Futures Contract.
VAT & Taxes
UK's HM Revenue and Customs has confirmed that the trading of the EUAA 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.
MIC Code
Clearing Venues