UKA Futures | ICE
UKA Futures80216150
ICE Futures Europe

UKA Futures

Description

The UKA Futures Contract is a deliverable contract where each Clearing Member with a position open at cessation of trading for a contract month is obliged to make or take delivery of UK Allowances (UKAs) to or from the UK Emissions Trading Registry in accordance with the ICE Futures Europe Regulations.

Market Specifications

Trading Screen Product Name
UKA Futures
Trading Screen Hub Name
UKA
Contract Symbol
UKA
Contract Size
1000 Allowances
Unit of Trading
One lot of 1,000 UK Allowances (UKA). Each UKA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations.
Minimum Trading Size
1 lot
Quotation
The contract price is in Pound Sterling and pence per metric tonne
Tick Size
GBP 0.01 per tonne (i.e. £10.00 per lot).
Minimum Price Fluctuation
GBP 0.01
Maximum Price Fluctuation
There are no limits.
Contract Series
Up to 3 December and 1 March contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond 2030.
Expiration Date
Last Monday of the contract month. However, if the last Monday is a Non-Business Day or there is a Non-Business Day in the 4 days following the last Monday, the last day of trading will be the penultimate Monday of the delivery month
Settlement Price
Trade weighted average during the daily settlement period (16:05 – 16:15 UK Local Time) with Quoted Settlement Prices if low liquidity. The settlement price will become the Exchange Delivery Settlement Price (EDSP).
Settlement
The contracts are physically settled and delivered by the transfer of the UKAs from the seller's account to the buyer's account at the UK Emissions Trading Registry. All transfers always pass through your clearing member's account and ICE Clear Europe. Delivery takes place 3 days after the last trading day.
Clearing
ICE Clear Europe acts as central counterparty to all trades and guarantees the financial performance of the ICE Futures contracts registered in the name of its Members
Margin
Initial and variation margin are charged in the usual manner by ICE Clear Europe
Business Days
ICE Business Days
MIC Code
IFEU
Clearing Venues
ICEU

Codes

Clearing Admin Name
UKA
Physical
UKA
Logical
UKA
GMI (FC)
ION A.C.N.