- Trading Screen Product Name
- EUA Futures
- Trading Screen Hub Name
- EUA (Futures-style)
- Contract Symbol
EFO
- Contract Series
Up to 7 December, 6 quarterly contracts and up to 2 August
contracts or as otherwise determined and announced by ICE Endex
from time to time. Contracts will not be listed beyond December
2030.
- Underlying Contract
The underlying contract is the December Future of the relevant
year. For example, the underlying for the Mar 2021 option is the
Dec 2021 Future.
When trading in EUA Futures Options Contracts, Members must comply
with the rules applicable to the Underlying Contract.
- Expiration Date
Trading will cease when the intraday reference price is set,
approximately 14:00 CET (as specified in the Operating Time
Schedule - Appendix B.1), three UK business days before the expiry
of the corresponding March, June, August, September, or December
contract month of the EUA Futures Contract.
- Contract Security
ICE Clear Europe acts as central counterparty to all trades thereby
guaranteeing the financial performance of ICE Endex contracts
registered in the name of its Members up to and including delivery,
exercise and/or settlement.
- Trading Hours
Open 08:00, Close 18:00 (CET), Monday - Friday
- Trading Model
Continuous trading throughout trading hours.
- Trading Methods
Electronic futures, Exchange for Swap (EFS) and Block Trades are
available for this contract.
- Unit of Trading
One EUA Futures Options Contract.
- Contract Size
One lot of 1000 EUAs. Each EUA being an Allowance which is an
entitlement to emit one tonne of carbon dioxide equivalent gas
during the relevant period as further defined in the ICE Endex
Regulations.
- Minimum Trading Size
1 lot
- Minimum Block Order
25 lots
- Quotation
The contract price is in Euros and Euro cents per EUA.
- 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 Endex may add
one or more strike prices nearest to the last price listed as
necessary.
- Minimum Price Fluctuation
€ 0.005 per tonne (i.e. €5.00 per lot).
- Maximum Price Fluctuation
There are no limits.
- Tick Value
€ 0.005 per tonne (i.e. €5.00 per lot).
- Option Style
European
- Option Premium
Futures Style
- Exercise Procedure
EUA Futures Options will be exercised into EUA 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).
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
- NDEX
- Clearing Venues
- ICEU