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Description

The UKA Daily Futures Contract is a deliverable contract where each Clearing Member with a position open at cessation of trading is obliged to make or take delivery of UK Allowances (UKA) to or from the UK Emissions Trading Registry in accordance with the ICE Futures Europe Regulations (Regulations).

Market Specifications

Trading Screen Product Name

UKA Daily Futures

Trading Screen Hub Name

UKA Daily

Contract Symbol

DUK

Contract Series

The Contract is a Daily Contract. Only one Daily Contract is listed at any one time.

Contract Size

1000 Allowances

Unit of Trading

1 lot of 1000 UK Allowances.

Minimum Trading Size

Futures: 1 lot = 1,000 Allowances
Block Order: 10 lots = 10,000 Allowances

Price Quotation

The contract price is in Pound Sterling and pence per metric tonne.

Minimum Price Fluctuation

GBP 0.01

Tick Value

GBP 0.01 per tonne (i.e. £10.00 per lot).

Last Trading Day

Trading will cease at the close of business on the business day prior to the start of the delivery period.

Settlement Method

Physical Delivery

End of Day Settlement Price

Trade weighted average during the daily settlement period (16:05 – 16:15 UK Local Time) with Quoted Settlement Prices if low liquidity. The settlement price will become the Exchange Delivery Settlement Price (EDSP).

Delivery Terms

The Contracts are physically deliverable by the transfer of UK Allowances from an acceptable account of the Selling Clearing Member at the UK Emissions Trading Registry to the specified account of ICE Clear Europe at the UK Emissions Trading Registry and from the account of ICE Clear Europe at the UK Emissions Trading Registry to an acceptable account of the Buying Clearing Member at the UK Emissions Trading Registry. Delivery takes place 2 days after the last trading day.

Exchange Rulebook

ICE Futures Europe Contract Rules & Procedures

MIC Code

IFEU

Clearing Venues

ICEU

Related Products

• UKA Futures
• UKA Options
• CORSIA Eligible Emissions Units (2024-2026) Futures
• Nature-Based Solution Carbon Credit Vintage 2016-2020 Futures

Trading Hours

Codes