- Trading Screen Product Name
- CCA ACP Advance Futures
- Trading Screen Hub Name
- CCA
- Contract Symbol
ACA
- Settlement Method
1 ACA contract exercises into an eligible California Carbon
Allowances futures contract
- Contract Size
1 California Carbon Allowances futures contract
- Currency
USD
- Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per
California Carbon Allowance; Price may be positive or negative;
minimum price fluctuation may vary by trade type. Please see Table
in Resolution 1 to this Chapter 18.
- Listing Cycle
The exchange may list contracts for trade on the standard listing
cycle of February, May, August and November out two years. The
Exchange may list any other calendar month contract sets off the
standard-cycle listing schedule.
- Last Trading Day
Trading shall cease at 3:00 p.m. (EPT) on the day on which the
Joint Auction Summary Results Report (“Report”) for the
specified auction is scheduled to be released. Trading may be
extended until 3:00 p.m. of the day that is the Last Trading Day
for the eligible CCA futures contract (defined below) if the
release of the Report is delayed for any reason. In the event that
no Report is released due to cancellation of the auction, or
release of the Report is delayed beyond the extension of trading
permitted by the preceding sentence of this paragraph, the Last
Trading Day will be determined by the Exchange as follows: (a) if
notice of the auction cancellation or delay is issued by the
California Air Resources Board on or prior to the 15th day of a
calendar month, then trading shall cease at 3:00 p.m. (EPT) on the
last Business Day of such month and (b) if such notice is given by
the California Air Resources Board after the 15th calendar day of a
month, then trading shall cease at 3:00 p.m. (EPT) on the tenth
(10th) Business Day of the next calendar month.
- Deliverable Instruments
All parties with open positions at expiry will establish equivalent
long or short futures positions in the eligible CCA Vintage
Specific futures contract on the Final Settlement Day. The eligible
CCA futures contract is the Vintage Specific futures contract with
a vintage three years advanced from the current calendar year and
an expiry month following the month the auction is held.
Open positions in the eligible CCA futures contract shall be priced
at the respective Advance Auction Settlement Price as published by
the California Air Resources Board in the Report. In the event that
an auction is cancelled, or the release of the Report is delayed
beyond the extension of trading permitted by this Rule, or no
Advance Auction Settlement Price is published in the Report, an
alternative settlement price that is equal to the higher of the
applicable Auction Reserve Price published by the California Air
Resources Board, and the settlement price of the eligible CCA
futures contract on the Final Settlement Day, shall be determined
by the Exchange.
- Final Settlement
Final Settlement Day will be equal to the Last Trading Day.
- MIC Code
- IFED
- Clearing Venues
- ICEU