ICE Massachusetts Solar Renewable Energy Certificate Carve Out II

Physically delivered Massachusetts Solar Renewable Energy Certificates (“Massachusetts SREC II”) where a Massachusetts SREC II is an electronic certificate issued by NEPOOL GIS for qualifying generation.
Massachusetts Solar Renewable Energy Certificate Carve Out II Futures	Massachusetts Solar Renewable Energy Certificate Carve Out II Futures 	Massachusetts Solar Renewable Energy Certificate Carve Out II Futures 	Massachusetts Solar Renewable Energy Certificate Carve Out II Futures
Trading Screen Product Name 	SREC-MA Futures 	SREC-MA Futures 	SREC-MA Futures
Trading Screen Hub Name 	SREC-MA II 	SREC-MA II 	SREC-MA II
Contract Symbol 	MS2 	MS2 	MS2
Settlement Method 	Physical delivery 	Physical delivery 	Physical delivery
Contract Size 	10 MWh representing 10 Qualifying SRECs 	10 MWh representing 10 Qualifying SRECs 	10 MWh representing 10 Qualifying SRECs
Currency 	USD 	USD 	USD
Minimum Price Fluctuation 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; 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 	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 	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. 	Three Business Days prior to the last Business Day of the delivery month. 	Three Business Days prior to the last Business Day of the delivery month.
Deliverable Instruments 	Massachusetts SRECs eligible for delivery are those representing solar renewable energy (defined in Massachusetts General Law c.25A, 11F(c)) eligible to meet the Solar Carve Out Program (SREC II) requirement of the Renewable Energy Portfolio Standard promulgated under Massachusetts General Law c.25A 11F and issued by NEPOOL GIS having a vintage year designation that corresponds to the specified vintage of the expiring contract.	Massachusetts SRECs eligible for delivery are those representing solar renewable energy (defined in Massachusetts General Law c.25A, 11F(c)) eligible to meet the Solar Carve Out Program (SREC II) requirement of the Renewable Energy Portfolio Standard promulgated under Massachusetts General Law c.25A 11F and issued by NEPOOL GIS having a vintage year designation that corresponds to the specified vintage of the expiring contract.	Massachusetts SRECs eligible for delivery are those representing solar renewable energy (defined in Massachusetts General Law c.25A, 11F(c)) eligible to meet the Solar Carve Out Program (SREC II) requirement of the Renewable Energy Portfolio Standard promulgated under Massachusetts General Law c.25A 11F and issued by NEPOOL GIS having a vintage year designation that corresponds to the specified vintage of the expiring contract.
Registry 	NEPOOL GIS 	NEPOOL GIS 	NEPOOL GIS
MIC Code 	IFED 	IFED 	IFED
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	7:50 PM - 6:00 PM
19:50 - 18:00 	7:40 PM
19:40
Trading Hours 	LONDON 	12:50 AM - 11:00 PM
00:50 - 23:00 	12:40 AM
00:40
Trading Hours 	SINGAPORE 	8:50 AM - 7:00 AM
08:50 - 07:00 	8:40 AM
08:40
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	SREC-MA C1 	SREC-MA C1
Codes 	Physical 	MS2 	MS2
Codes 	Logical 	MS2 	MS2
Codes 	GMI (FC) 	JI 	JI
Codes 	ION A.C.N. 	None 	None
Massachusetts Solar Renewable Energy Certificate Carve Out II Options	Massachusetts Solar Renewable Energy Certificate Carve Out II Options 	Massachusetts Solar Renewable Energy Certificate Carve Out II Options 	Massachusetts Solar Renewable Energy Certificate Carve Out II Options
Trading Screen Product Name 	SREC-MA Futures 	SREC-MA Futures 	SREC-MA Futures
Trading Screen Hub Name 	SREC-MA II 	SREC-MA II 	SREC-MA II
Contract Symbol 	MS2 	MS2 	MS2
Settlement Method 	Exercise into Underlying Futures Contract 	Exercise into Underlying Futures Contract 	Exercise into Underlying Futures Contract
Contract Size 	1 Massachusetts Solar Renewable Energy Certificate Carve Out II Future contract 	1 Massachusetts Solar Renewable Energy Certificate Carve Out II Future contract 	1 Massachusetts Solar Renewable Energy Certificate Carve Out II Future contract
Currency 	USD 	USD 	USD
Minimum Price Fluctuation 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18. 	The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Strike Price Intervals 	A minimum of ten Strike Prices in increments of $0.25 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.25 increments.	A minimum of ten Strike Prices in increments of $0.25 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.25 increments.	A minimum of ten Strike Prices in increments of $0.25 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.25 increments.
Listing Cycle 	1. Standard-cycle contract listings: Monthly contract sets through the current Year and forward up to 10 consecutive Years.
2. The Exchange may list any other calendar month contract set off the standard-cycle listing schedule through the last expiring contract set.	1. Standard-cycle contract listings: Monthly contract sets through the current Year and forward up to 10 consecutive Years.
2. The Exchange may list any other calendar month contract set off the standard-cycle listing schedule through the last expiring contract set.	1. Standard-cycle contract listings: Monthly contract sets through the current Year and forward up to 10 consecutive Years.
2. The Exchange may list any other calendar month contract set off the standard-cycle listing schedule through the last expiring contract set.
Last Trading Day 	At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the delivery month. 	At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the delivery month. 	At 4:00 pm EPT on the 15th calendar day of the delivery month. Where the 15th calendar day is not a Business Day, the Last Trading Day shall be the first Business Day following the 15th calendar day of the delivery month.
Option Style 	European 	European 	European
Exercise 	Automatic
Exercise Time 5:30 pm EPT on the Last Trading Day 	Automatic
Exercise Time 5:30 pm EPT on the Last Trading Day 	Automatic
Exercise Time 5:30 pm EPT on the Last Trading Day
Registry 	NEPOOL GIS 	NEPOOL GIS 	NEPOOL GIS
MIC Code 	IFED 	IFED 	IFED
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	7:50 PM - 6:00 PM*
19:50 - 18:00 	7:40 PM
19:40
Trading Hours 	LONDON 	12:50 AM - 11:00 PM*
00:50 - 23:00 	12:40 AM
00:40
Trading Hours 	SINGAPORE 	8:50 AM - 7:00 AM*
08:50 - 07:00 	8:40 AM
08:40
Codes 	Clearing Admin Name 	SREC-MA C1 	SREC-MA C1
Codes 	Physical 	MS2 	MS2
Codes 	Logical 	MS2 	MS2
Codes 	GMI (FC) 	JI 	JI
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE Massachusetts Solar Renewable Energy Certificate Carve Out II Product Spec
ICE Option on Massachusetts Solar Renewable Energy Certificate Carve Out II Product Spec
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