Biofuel Outright - California Low Carbon Fuel Standard Credit (OPIS) Future

ICE Futures U.S.

A monthly cash settled future based on the OPIS daily assessment price for Physically Delivered California Low Carbon Fuel Standard (LCFS) Credits.

Trading Screen Product Name: LCFS Futures
Trading Screen Hub Name: LCFS (OPIS)
Contract Symbol: LFS
Contract Size: 100 metric tons (where 1 LCFS Credit is 1 metric ton)
Unit of Trading: Any multiple of 100 metric tons
Currency: US Dollars and cents
Trading Price Quotation: Twenty-five cents ($0.25) per metric ton
Settlement Price Quotation: One cent ($0.01) per metric ton
Minimum Price Fluctuation: Twenty-five cents ($0.25) per metric ton
Last Trading Day: Last trading day of the contract month
Floating Price: In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement: In respect of final settlement, the Floating Price will be a price in USD and cents per LCFS Credit based on the average of the "Average" quotations appearing in the "OPIS Biofuels Daily Report" under the heading "Low Carbon Fuel Standards" subheading "California Low Carbon Fuel Standard” for “LCFS Credit” for each business day (as specified below) in the determination period.
Contract Series: Up to 72 consecutive months, or as otherwise determined by the Exchange
Final Payment Date: Two Clearing House Business Days following the Last Trading Day
Business Days: Publication days for OPIS Biofuels Daily Report
MIC Code: IFED
Clearing Venues: ICEU

*Next Day

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