- Trading Screen Product Name
- CORSIA Eligible Emissions Units Futures
- Trading Screen Hub Name
- Phase 1
- Contract Symbol
CP1
- Contract Series
Up to 7 December, 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
delivery, exercise and/or settlement.
- Trading Hours
01:00 AM - 11:00 PM, London Prevailing Time (LPT), 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
CORSIA Eligible Emissions Units for the 2024-2026 compliance period
(first phase) from Eligible Registries.
Each Clearing Member with a position open at cessation of trading
for a contract month, is obliged to make or take delivery of CORSIA
Eligible Emissions Units to or from Registries which have been
approved as an Emissions Unit Program by the International Civil
Aviation Organization (ICAO) Council to supply CORSIA Eligible
Emissions Units for the 2024 – 2026 compliance period (first
phase) and has been designated by the Exchange as an Eligible
Registry.
The Exchange determines and publishes the list of
Eligible
Registries from time to time.
- Contract Size
One lot of 1,000 CORSIA Eligible Emissions Units for the 2024-2026
compliance period (first phase).
- 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 LLT.
- 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.
- Disclaimer
Neither the Exchange nor Clearing House makes any representation or
warranty that the CEEU Contracts have been endorsed, approved or
licensed by ICAO or the ICAO Council or jointly developed with ICAO
or the ICAO Council. Neither the Exchange nor the Clearing House
assert any rights over the “CORSIA” mark or brand.
- MIC Code
- IFEU
- Clearing Venues
- ICEU