- Trading Screen Product Name
- EUA Futures
- Trading Screen Hub Name
- EUA (Futures-style)
- Commodity Code
EFO
- Unit of Trading
One EUA Futures Options Contract.
- Minimum Trading Size
1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an
entitlement to emit one tonne of carbon dioxide equivalent gas, as
further defined in the ICE Futures Europe Regulations.
- 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 Fluctuation
€ 0.005
- Maximum Price Fluctuation
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 2021 option is the
Dec 2021 Future.
- Option Style
European
- Option Premium
Futures Style
- Position Limit
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).
- 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 Venues
- ICEU