The EUA Futures Options Contract is an option on the EUA Futures
Contract. At expiry, one lot of EUA Options will exercise into one
lot of EUA Futures. EUA Options are European style such that it is
automatically exercised at expiry in the money.
Units of Trading
One EUA Futures Options Contract.
Minimum Trading Size
Euro(€) and Euro cent (c) per metric tonne
Strike Price Intervals
A range of one-hundred and nine strike prices are automatically
listed for each contract month covering the price range from
€1.00 - €100.00. The Exchange may add one or more strike
prices nearest to the last price listed as necessary. Strike price
increments are €0.01
Minimum Price Flux
Maximum Price Flux
There are no limits.
Up to 16 contract months are listed on a quarterly expiry (March,
June, September and December), with 3 new contract months listed on
expiry of the December contract.
The underlying contract is the December Future of the relevant
year. For example, the underlying for the Mar 2010 option is the
Dec 2010 Future.
Premiums are paid at the time of the transaction.
There are no Iimits.
Last Trading Day
Three Exchange Trading days before the expiry of the corresponding
March, June, September, or December contract month of the EUA
The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.
VAT & Taxes
UK's HM Revenue and Customs has confirmed that the trading of the
EUA Options 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
Exercise and Automatic Exercise
EUA Futures Options will be exercised into EUA Futures contracts
and are of European-style exercise, such that at expiry automatic
exercise will occur of options which are one or more ticks in the
money (at-the-money and out-of-the-money options will expire).
18:00 UK Time
ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members.
All open contracts are marked to market daily.
Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor.