- Trading Screen Product Name
- EUA Futures
- Trading Screen Hub Name
- EUA (Futures-style)
- Contract Symbol
EFO
- Contract Series
Up to 7 December, 6 quarterly and 2 August contracts or as
otherwise determined and announced by ICE Endex from time to time.
Contracts will not be listed beyond December 2030.
- Contract Size
One lot of 1000 EUAs. Each EUA being an Allowance which is an
entitlement to emit one tonne of carbon dioxide equivalent gas
during the relevant period as further defined in the
Regulations.
- Unit of Trading
One EUA Futures Options Contract. An EUA Futures contract for the
purposes of trading and delivering Allowances within the meaning of
Chapter II and Chapter III of Directive 2003/87/EC in accordance
with the Rules.
- 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.
When trading in EUA Futures Options Contracts, Members must comply
with the rules applicable to the Underlying Contract.
- Minimum Trading Size
Options: 1 lot = 1,000 EUA Allowances
Exchange for Swap: 25 lots = 25,000 EUA Allowances
Block Order: 25 lots- 25,000 EUA Allowances
- Price Quotation
The contract price is in Euros and Euro cents per EUA.
- Minimum Price Fluctuation
0.05 Euro Cent per tonne (€0.005/tonne)
- Tick Value
€5.00 per lot
- Strike Price Increments
A minimum of 5 strike prices in increments of €0.50 above and
below the at-the-money Strike Price. Strike Price boundaries are
adjusted according to futures price movements. ICE Endex may add
one or more strike prices nearest to the last price listed as
necessary.
- Expiration Date
Trading will cease when the intraday settlement price is set,
approximately 14:00 CET (as specified in the Operating Time
Schedule - Appendix B.1), of the underlying futures contract three
UK business days before the expiry of the corresponding March,
June, August, September, or December contract month of the EUA
Futures Contract.
- Option Style
European Style
- Option Premium
Futures Style
- Exercise Procedure
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).
At-The-Money and Out-of-The-Money options will expire worthless. It
is not possible to manually abandon or exercise an option.
- MIC Code
- NDEX
- Clearing Venues
- ICEU