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ICE Futures U.S.

California Low Carbon Fuel Standard Futures

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Description

A monthly physically delivered Low Carbon Fuel Standard (LCFS) Futures contract. Each LCFS is a credit as determined by the California Air Resources Board (CARB).

Market Specifications

Trading Screen Product Name
California LCFS Futures
Trading Screen Hub Name
CA LCFS
Contract Symbol
CCF
Settlement Method
Intermediary Delivery
Contract Size
100 LCFS Credits (where 1 LCFS Credit is 1 MT)
Currency
US Dollars and cents
Trading Price Quotation
$0.25 per LCFS Credit
Minimum Price Fluctuation
The price quotation convention shall be Twenty-Five cent ($0.25) per LCFS Credit; minimum price fluctuation may vary by trade type.
Listing Cycle
Up to 72 consecutive months.
Last Trading Day
Three US business days prior to the last US business day of the delivery month.
Daily Settlement Price Quotation
The Daily Settlement Price will be a weighted average price of trades during a fifteen-minute settlement period from 15:45:00, US Eastern Prevailing Time.
Exchange Delivery Settlement Price
In respect of final settlement, the price will be a price in USD and cents per LCFS Credit based on the Daily Settlement Price determined by the Exchange on the Last Trading Day. The price shall not be greater than the maximum price imposed by the CARB, as defined in the CARB LCFS Credit Clearance Market, for the physical transfer of LCFS credits.
Deliverable Instruments
The deliverable instruments are LCFS Credits equal to the contract size delivered through the LCFS Reporting Tool and Credit Bank & Transfer System (LRT-CBTS) operated by the CARB. LCFS Credits eligible for delivery are those specified under Title 17, California Code of Regulations, sections 95480-95503 (the LCFS rule).
Delivery Period
Delivery shall be made in accordance with Part N of the ICE Clear Europe Delivery Procedures and the applicable provisions of Exchange Rulebook Chapter 19, or as otherwise announced by the Exchange and/or the Clearing Organization.
Registry
LCFS Reporting Tool and Credit Bank & Transfer System (LRT-CBTS) operated by the CARB.
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

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

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Phys LCFS
Physical
CCF
Logical
CCF
GMI (FC)
ION A.C.N.
Symbol Code
CCF