CER Futures Options918


The CER Options Contract is an option on the CER Futures Contract. At expiry, one lot of CER Options will exercise into one lot of CER Futures. CER Options are European style such that it is automatically exercised at expiry in the money.

Market Specifications

Trading Screen Product Name
CER Futures
Trading Screen Hub Name
Units of Trading
One ICE Futures CER Options contract.
Minimum Trading Size
1 lot.
Euro (€) and Euro cent (c) per metric tonne.
Strike Price Increments
A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €1.00 - €55.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price intervals are €0.01.
Minimum Price Flux
Maximum Price Flux
No limit.
Contract Series
Up to 12 contract months are listed on a quarterly expiry (March, June, September and December), with 3 new contract months listed on expiry of the December contract. Additional December contracts are listed through 2015.
Underlying Contract
The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2010 option is the Dec 2010 Future.
Option Style
Option Premium
Premiums are paid at the time of the transaction.
Position Limits
There are no limits.
Expiration Date
Three Exchange Trading Days before the expiry of the corresponding March, June, September or December contract month of the CER Futures Contract.
Contract Security
ICE Clear Europe Limited guarantees the financial performance of all ICE Futures contracts registered in the name of its members.
Daily Margin
All open contracts are marked-to-market daily.
Trading System
Trading occurs on ICE Futures' electronic trading platform (known as the ICE Platform) which is accessible via Web ICE or through a conformed Independent Software Vendor.
Trading Model
Continuous trading throughout trading hours.
Settlement Price
Trade weighted average of trades executed during the daily designated settlement period (16:50:00 - 16:59:59 UK Local Time) in accordance with Trading Procedure 2.4.9.
VAT & Taxes
UK's HM Revenue and Customs has confirmed that the trading of the CER Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order.
Exercise and Automatic Exercise
CER Options will be exercised into CER 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 lapse).
Exercise Deadline
18:00 UK Time
ICE Clear Europe Limited will act as central counterparty to all trades.
MIC Code
Clearing Venue

Trading Hours

New York2:00 AM - 12:00 PM
02:00 - 12:00
London7:00 AM - 5:00 PM
07:00 - 17:00
Singapore3:00 PM - 1:00 AM*
15:00 - 01:00

NOTE: DST in the US will be different than BST time. See Circular 15213 and the associated attachment for temporary trading hours changes.


Clearing Admin Name
R&N A.C.N.