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California Carbon Allowance Vintage 2025 Future81690701
ICE Futures U.S.

California Carbon Allowance Vintage 2025 Future


Physically delivered greenhouse gas emissions allowances where each is an allowance issued by the California Air Resources Board or a linked program (“California Carbon Allowance”) representing one metric ton of CO2 equivalent 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".

Market Specifications

Trading Screen Product Name
CCA Futures
Trading Screen Hub Name
Contract Symbol
CB5: Vintage 2025
Settlement Method
Physical delivery
Contract Size
1,000 California Carbon Allowances
Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per California Carbon Allowance; 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.
Deliverable Instruments
The deliverable instruments are California Carbon Allowances equal to the contract size delivered through the California MTS.

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 calendar year of the expiring contract and allowances having a vintage of any year prior to the calendar year of the expiring contract. If the specified vintage year allowances do not exist in the California MTS at contract expiry, allowances of any prior vintage year or allowances of the earliest vintage year available in the California MTS shall be delivered.
California MTS
MIC Code
Clearing Venues

Trading Hours

New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM

*Next Day


Clearing Admin Name
Symbol Code