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Nature-Based Solution Carbon Credit Vintage 2021-2025 Futures82550120

ICE Futures Europe

Nature-Based Solution Carbon Credit Vintage 2021-2025 Futures

Description

The Contract is a physically 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 Nature-Based Solution Carbon Credits in accordance with Part N of the ICE Clear Europe Delivery Procedures.

Market Specifications

Trading Screen Product Name
Nature-Based Carbon Credit Futures
Trading Screen Hub Name
VCU V21-V25
Contract Symbol
OVE
Contract Series
Up to 7 December, up to 9 quarterly and 2 monthly contracts or as otherwise determined and announced by the Exchange from time to time.
Expiration Date
3 business days prior to the last business day of the contract month
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 exercise and/or settlement.
Delivery Methods
The transfer of Nature-Based Solution Carbon Credits shall be directly between the Account of the Buyer and the Seller as matched by the Exchange and the Clearing House, via the Verra Registry
Trading Hours
01:00 AM - 11:00 PM LLT, Monday – Friday
Trading Model
Continuous trading throughout trading hours
Trading Methods
Futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading
VCUs from VCS AFOLU Projects with CCB Certification having a vintage between 1 January 2021 up to and including 31 December 2025.
Contract Size
One lot of 1,000 Nature-Based Solution Carbon Credits. Each Nature Based Solution Carbon Credit equals one metric tonne of greenhouse gas emissions.
Minimum Trading Size
1 lot
Minimum Block Order
10 lots
Quotation
The contract price is in US Dollars and Dollar Cents per metric tonne
Minimum Price Fluctuation
$0.01 per tonne (i.e., $10.00 per lot).
Maximum Price Fluctuation
There are no limits.
Tick Value
$0.01 per tonne (i.e., $10.00 per lot).
Settlement Price
Each business day at approximately 16:15 hours
Initial Margin
Calculated on all open contracts, Initial Margin, as defined in the ICE Clear Europe Clearing Rules, is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin
All open contracts are 'marked-to-market' daily, with Variation Margin, as defined in the ICE Clear Europe Clearing Rules, being called for as appropriate.
Exchange Delivery Settlement Price
The EDSP shall be the Settlement Price established by ICE Futures Europe at the end of the closing period on the last day of trading for the relevant delivery month.

ICE Futures Europe may, in its absolute discretion, determine in respect of the Contract, at any time prior to the delivery period, a price other than that specified above.
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:55 PM
19:55
London1:00 AM - 11:00 PM*
01:00 - 23:00
12:55 AM
00:55
Singapore9:00 AM - 7:00 AM*
09:00 - 07:00
8:55 AM
08:55

*Next Day

Codes

Clearing Admin Name
Carbon Credits
Physical
OVE
Logical
OVE
Symbol Code
OVE