- Trading Screen Product Name
- UKA UK Auction 500
- Trading Screen Hub Name
- UKA UK
- Contract Symbol
UK5
- Contract Size
500 UKA
- Unit of Trading
One lot of five hundred (500) UK Allowances (UKA). Each UK
Allowance being an entitlement to emit one tonne of carbon dioxide
equivalent gas in the UK ETS.
- Currency
Pound Sterling
- Minimum Trading Size
1 lot
- Quotation
The contract price is in Pound Sterling and pence per metric tonne
- Settlement Price Quotation
The contract price is in Pound Sterling and pence per metric tonne
- Minimum Price Fluctuation
GBP 0.01
- Maximum Price Fluctuation
There are no limits.
- Auction Reserve Price
The Auction Reserve Price is GBP 22.00 per UK Emission Allowance
(UKA).
- Contract Series
The Contract is a Daily Contract. Only one Daily Contract is listed
at any one time.
- Expiry
Contracts will expire on a daily basis and only one contract will
be listed at any one time.
- Contract Security
ICE Clear Europe acts as central counterparty to all trades thereby
guaranteeing the financial performance of ICE Futures Europe
contracts registered in the name of its Members up to and including
delivery, exercise and/or settlement
- Position Limit
Positions are reported to the Exchange on a daily basis. The
Exchange has powers to prevent the development of excessive
positions or unwarranted speculation or any other undesirable
situation and may take steps to resolve such situations including
the ability to mandate members to limit the size of such positions
or to reduce positions where appropriate.
- Trading System
Trading will occur on the ICE Futures Europe electronic trading
platform known as the ICE Platform accessible via Web ICE
- Trading Hours
12:00 hours to 14:00 hours Local London Time
- Additional Information
The Auction Clearing Price will be determined upon closure of the
bidding window. Bids shall be sorted in order of the price bid and
added up starting with the highest bid. The price of the bid at
which the sum of the volumes bid matches the volume of the
allowances auctioned shall be the Auction Clearing Price. Tied bids
shall be sorted at random. All bidders shall pay the Auction
Clearing Price. In case the sum of the volumes bid is lower than
the volume of the allowances auctioned, allowances can be
allocated. Winning bids and the Auction Clearing Price will be
determined in accordance with Regulation 6 and Regulation 7 of the
Greenhouse Gas Emissions Trading Scheme Auctioning Regulations
2021.
- Settlement Date
One business day following the Last Trading Date.
- Settlement
Transfer follows receipt of full contract value by ICE Clear Europe
and occurs within at T+1.
- Business Days
Shall be the same as the ICE UKA Futures Contract.
- MIC Code
- IFEU
- Clearing Venues
- ICEU