- Trading Screen Product Name
- UKA Futures
- Trading Screen Hub Name
- UKA
- Contract Symbol
UKA
- Contract Series
Up to 2 December and 2 March contracts or as otherwise determined
and announced by ICE Futures Europe from time to time. Contracts
will not be listed beyond December 2030.
- Underlying Contract
The underlying contract is the December Future contract for the
relevant year. For example, the underlying for the Mar 2023 options
is the Dec 2023 Future.
- Expiration Date
Trading will cease when the intraday reference price is set, 12:50
- 13:00 LLT, three Exchange Trading days before the expiry of the
corresponding March or December contract month of the UKA Futures
Contract.
- 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.
- Trading Model
Continuous trading throughout the trading hours.
- Trading Methods
Screen Trades, Exchange for Physical (EFP), Exchange for Swap (EFS)
and Block Trades are available for this contract.
- Unit of Trading
One UKA Options Contract.
- Contract Size
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
- Minimum Block Order
5 lots
- Quotation
The contract price is in Pound Sterling and pence UKA
- Strike Price Intervals
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 Futures Europe
may add one or more strike prices nearest to the last price listed
as necessary.
- Minimum Price Fluctuation
£0.01 per tonne (£10.00 per lots)
- Tick Value
£0.01 per tonne (£10.00 per lots)
- Option Style
European
- Option Premium
Futures Style
- Exercise
UKA Options will be exercised into UKA 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).
UKA Options are auto-only. 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
- IFEU
- Clearing Venues
- ICEU