- Trading Screen Product Name
- CCO Futures
- Trading Screen Hub Name
- Carbon Offset
- Contract Symbol
CCO
- Settlement Method
Physical delivery
- Contract Size
1,000 California Carbon Offsets
- Currency
USD
- Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per
Offset; minimum price fluctuation may vary by trade type. Please
see Table in Resolution 1 to this Chapter 18.
- Listing Cycle
1. The Exchange may list monthly contracts in the Standard Cycle or
any other calendar month it determines for the current year and
forward for up to ten years.
2. The Standard Cycle is: January, February, March, April, May,
June, July, August, September, October, November and December
- Last Trading Day
Three Business Days prior to the last Business Day of the delivery
month
The last weekday of December is not considered a Business Day,
unless otherwise determined and announced by the Exchange.
- Deliverable Instruments
The deliverable instruments are California Carbon Offsets equal to
the contract size delivered through the California MTS. Also
eligible for delivery are California Carbon Allowances equal to the
contract size delivered through the California MTS.
California Carbon Offsets acceptable for delivery are those issued
by the California Air Resources Board representing one metric ton
equivalent of greenhouse gas emission reduction or removals
enhancement achieved under California Assembly Bill 32 "California
Global Warming Solutions Act of 2006" and its associated
regulations, rules and amendments, all together known as the
"California Cap and Trade Program". Any individual offset or series
of offsets acceptable for delivery are those that are beyond the
risk of invalidation, specifically where the Last Delivery Date of
the futures contract is greater than the Invalidation Timeframe
added to the Start of Invalidation Period (i.e.: Last Delivery Date
> Invalidation Timeframe + Start of Invalidation Timeframe) as
stated on the California Air Resource Board’s website at the
time of delivery.
Any available vintage of offset meeting these criteria is
deliverable.
California Carbon Allowances acceptable for delivery are those
issued as a limited authorization to emit up to one metric ton of
CO2 or CO2 equivalent in the California Cap and Trade Program
having a vintage corresponding to the specified calendar year in
which the CCO contract expires and allowances having a vintage of
any year prior to the specified calendar year in which the CCO
contract expires.
- Registry
California MTS
- MIC Code
- IFED
- Clearing Venues
- ICEU