EUA Futures Options196

Description

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.

Market Specifications

Units of Trading
One EUA Futures Options Contract.
Minimum Trading Size
1 lot.
Quotation
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
€ 0.01
Maximum Price Flux
There are no limits.
Contract Series
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.
Underlying 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.
Option Style
European
Option Premium
Premiums are paid at the time of the transaction.
Position Limits
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 Futures Contract.
Clearing
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 Order.
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).
Exercise Deadline
18:00 UK Time
Contract Security
ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members.
Daily Margin
All open contracts are marked to market daily.
Trading System
Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor.
Trading Model
Continuous trading throughout trading hours.
MIC Code
IFEU
Clearing Venue
ICEU

Trading Hours

CityTradingPre-Open
New York2:00 AM - 12:00 PM
02:00 - 12:00
London7:00 AM - 5:00 PM
07:00 - 17:00
Singapore2:00 PM - 12:00 AM*
14:00 - 00:00

*Next Day

NOTE: DST in the US will be different than BST time. See Circular 15030 and the associated attachment for temporary trading hours changes.

Codes

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