ICE Futures U.S.

California Low Carbon Fuel Standard Credit (OPIS) Future

California Low Carbon Fuel Standard Credit (OPIS) Future68358300

Description

A monthly cash settled futures contract based on the OPIS daily assessment price for Physically Delivered California Low Carbon Fuel Standard (LCFS) Credits

Market Specifications

Trading Screen Product Name
LCFS Futures
Trading Screen Hub Name
LCFS
Commodity Code
LFS
Settlement Method
Cash
Contract Size
100 LCFS Credits (where 1 LCFS Credit is 1 MT)
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be Twenty-Five cent ($0.25) per LCFS Credit; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle
1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it determines for the current year and forward for up to ten years.

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, October, November and December
Last Trading Day
Last Business Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per LCFS Credit based on the average of the mean of the high and low quotations appearing in the "OPIS Ethanol & Gasoline Component Spot Market Prices" report under the heading "California Low Carbon Fuel Standard" subheading "Carb Credit” for each Business Day (as specified below) in the determination period.
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for OPIS Carb Credit
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
LCFS
Physical
LFS
Logical
LFS
GMI(FC)
R&N A.C.N.