ICE EUA

The EUA Futures Contract is a deliverable contract where each Clearing Member with a position open at cessation of trading for a contract month is obliged to make or take delivery of Carbon Emission Allowances to or from the Union Registry in accordance with the ICE Futures Europe Regulations.
EUA Futures 	EUA Futures 	EUA Futures 	EUA Futures
Trading Screen Product Name	EUA Futures 	EUA Futures 	EUA Futures
Trading Screen Hub Name 	EUA 	EUA 	EUA
Unit of Trading 	One lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations. 	One lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations. 	One lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations.
Minimum Trading Size 	1 lot 	1 lot 	1 lot
Quotation 	Euro (€) and Euro cent (c) per metric tonne 	Euro (€) and Euro cent (c) per metric tonne 	Euro (€) and Euro cent (c) per metric tonne
Minimum Tick 	€0.01 per tonne (i.e. €10 per lot) 	€0.01 per tonne (i.e. €10 per lot) 	€0.01 per tonne (i.e. €10 per lot)
Minimum Price Fluctuation 	€0.01 per tonne 	€0.01 per tonne 	€0.01 per tonne
Maximum Price Fluctuation 	There are no limits. 	There are no limits. 	There are no limits.
Contract Series 	Up to 7 December, 6 quarterly and 2 monthly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond December 2030. 	Up to 7 December, 6 quarterly and 2 monthly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond December 2030. 	Up to 7 December, 6 quarterly and 2 monthly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond December 2030.
Expiration Date 	Last Monday of the contract month. However, if the last Monday is a Non-Business Day or there is a Non-Business Day in the 4 days following the last Monday, the last day of trading will be the penultimate Monday of the delivery month 	Last Monday of the contract month. However, if the last Monday is a Non-Business Day or there is a Non-Business Day in the 4 days following the last Monday, the last day of trading will be the penultimate Monday of the delivery month 	Last Monday of the contract month. However, if the last Monday is a Non-Business Day or there is a Non-Business Day in the 4 days following the last Monday, the last day of trading will be the penultimate Monday of the delivery month
Trading System 	Trading will occur on the ICE Futures Europe electronic platform known as the ICE Platform accessible via WebICE or through a conformed Independent Software Vendor. 	Trading will occur on the ICE Futures Europe electronic platform known as the ICE Platform accessible via WebICE or through a conformed Independent Software Vendor. 	Trading will occur on the ICE Futures Europe electronic platform known as the ICE Platform accessible via WebICE or through a conformed Independent Software Vendor.
Trading Model 	Continuous trading throughout trading hours 	Continuous trading throughout trading hours 	Continuous trading throughout trading hours
Settlement Price 	Trade weighted average during the daily closing period (16:50:00 - 16:59:59 hours UK local time) with Quoted Settlement Prices if low liquidity 	Trade weighted average during the daily closing period (16:50:00 - 16:59:59 hours UK local time) with Quoted Settlement Prices if low liquidity 	Trade weighted average during the daily closing period (16:50:00 - 16:59:59 hours UK local time) with Quoted Settlement Prices if low liquidity
Settlement 	The contracts are physically settled and delivered by the transfer of the EUAs from the seller's account to the buyer's account at the Union Registry. All transfers always pass through your clearing member's account and ICE Clear Europe. Delivery takes place 3 days after the last trading day.	The contracts are physically settled and delivered by the transfer of the EUAs from the seller's account to the buyer's account at the Union Registry. All transfers always pass through your clearing member's account and ICE Clear Europe. Delivery takes place 3 days after the last trading day.	The contracts are physically settled and delivered by the transfer of the EUAs from the seller's account to the buyer's account at the Union Registry. All transfers always pass through your clearing member's account and ICE Clear Europe. Delivery takes place 3 days after the last trading day.
Clearing 	ICE Clear Europe acts as central counterparty to all trades and guarantees the financial performance of the ICE Futures contracts registered in the name of its Members 	ICE Clear Europe acts as central counterparty to all trades and guarantees the financial performance of the ICE Futures contracts registered in the name of its Members 	ICE Clear Europe acts as central counterparty to all trades and guarantees the financial performance of the ICE Futures contracts registered in the name of its Members
VAT & Taxes 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Futures Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order. 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Futures Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order. 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Futures Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order.
Margin 	Initial and variation margin are charged in the usual manner by ICE Clear Europe 	Initial and variation margin are charged in the usual manner by ICE Clear Europe 	Initial and variation margin are charged in the usual manner by ICE Clear Europe
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	EUA 	EUA
Codes 	Physical 	C 	C
Codes 	Logical 	ECF 	ECF
Codes 	GMI (FC) 	CO 	CO
Codes 	ION A.C.N. 	None 	None
EUA Options 	EUA Options 	EUA Options 	EUA Options
Trading Screen Product Name	EUA Futures 	EUA Futures 	EUA Futures
Trading Screen Hub Name 	EUA 	EUA 	EUA
Unit of Trading 	One EUA Futures Options Contract. 	One EUA Futures Options Contract. 	One EUA Futures Options Contract.
Minimum Trading Size 	1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations. 	1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations. 	1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations.
Quotation 	Euro(€) and Euro cent (c) per metric tonne 	Euro(€) and Euro cent (c) per metric tonne 	Euro(€) and Euro cent (c) per metric tonne
Strike Price Intervals 	A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €0.50 - €100.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price increments are €0.01 	A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €0.50 - €100.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price increments are €0.01 	A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €0.50 - €100.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price increments are €0.01
Minimum Price Fluctuation 	€ 0.005 	€ 0.005 	€ 0.005
Maximum Price Fluctuation 	There are no limits. 	There are no limits. 	There are no limits.
Contract Series 	The contract months are listed on a quarterly expiry (March, June, September and December) up to and including 2020 	The contract months are listed on a quarterly expiry (March, June, September and December) up to and including 2020 	The contract months are listed on a quarterly expiry (March, June, September and December) up to and including 2020
Underlying Contract 	The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2010 option is the Dec 2010 Future. 	The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2010 option is the Dec 2010 Future. 	The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2010 option is the Dec 2010 Future.
Option Style 	European 	European 	European
Option Premium 	Premiums are paid at the time of the transaction. 	Premiums are paid at the time of the transaction. 	Premiums are paid at the time of the transaction.
Position Limit 	There are no Iimits. 	There are no Iimits. 	There are no Iimits.
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, three Exchange Trading days before the expiry of the corresponding March, June, September, or December contract month of the EUA Futures Contract. 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, three Exchange Trading days before the expiry of the corresponding March, June, September, or December contract month of the EUA Futures Contract. 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, three Exchange Trading days before the expiry of the corresponding March, June, September, or December contract month of the EUA Futures Contract.
Clearing 	The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.	The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.	The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.
VAT & Taxes 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order. 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order. 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order.
Exercise 	EUA Futures Options will be exercised into EUA Futures contracts and are of European-style exercise, such that at expiry automatic exercise will occur of options which are one or more ticks in the money (at-the-money and out-of-the-money options will expire). 	EUA Futures Options will be exercised into EUA Futures contracts and are of European-style exercise, such that at expiry automatic exercise will occur of options which are one or more ticks in the money (at-the-money and out-of-the-money options will expire). 	EUA Futures Options will be exercised into EUA Futures contracts and are of European-style exercise, such that at expiry automatic exercise will occur of options which are one or more ticks in the money (at-the-money and out-of-the-money options will expire).
Contract Security 	ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members. 	ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members. 	ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members.
Daily Margin 	All open contracts are marked to market daily. 	All open contracts are marked to market daily. 	All open contracts are marked to market daily.
Trading System 	Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor. 	Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor. 	Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor.
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	None
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	None
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	None
Codes 	Clearing Admin Name 	EUA 	EUA
Codes 	Physical 	C 	C
Codes 	Logical 	ECF 	ECF
Codes 	GMI (FC) 	CO 	CO
Codes 	ION A.C.N. 	None 	None
EUA Options (Futures Style Margin)	EUA Options (Futures Style Margin) 	EUA Options (Futures Style Margin) 	EUA Options (Futures Style Margin)
Trading Screen Product Name 	EUA Futures 	EUA Futures 	EUA Futures
Trading Screen Hub Name 	EUA (Futures-style) 	EUA (Futures-style) 	EUA (Futures-style)
Contract Symbol 	EFO 	EFO 	EFO
Unit of Trading 	One EUA Futures Options Contract. 	One EUA Futures Options Contract. 	One EUA Futures Options Contract.
Minimum Trading Size 	1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations. 	1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations. 	1 lot of 1,000 Carbon Emission Allowances (EUA). Each EUA being an entitlement to emit one tonne of carbon dioxide equivalent gas, as further defined in the ICE Futures Europe Regulations.
Quotation 	Euro(€) and Euro cent (c) per metric tonne 	Euro(€) and Euro cent (c) per metric tonne 	Euro(€) and Euro cent (c) per metric tonne
Strike Price Intervals 	A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €1.00 - €100.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price increments are €0.01 	A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €1.00 - €100.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price increments are €0.01 	A range of one-hundred and nine strike prices are automatically listed for each contract month covering the price range from €1.00 - €100.00. The Exchange may add one or more strike prices nearest to the last price listed as necessary. Strike price increments are €0.01
Minimum Price Fluctuation 	€ 0.005 	€ 0.005 	€ 0.005
Maximum Price Fluctuation 	There are no limits. 	There are no limits. 	There are no limits.
Contract Series 	Up to 7 December and 6 quarterly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond December 2030. 	Up to 7 December and 6 quarterly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond December 2030. 	Up to 7 December and 6 quarterly contracts or as otherwise determined and announced by the Exchange from time to time. Contracts will not be listed beyond December 2030.
Underlying Contract 	The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2021 option is the Dec 2021 Future. 	The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2021 option is the Dec 2021 Future. 	The underlying contract is the December Future of the relevant year. For example, the underlying for the Mar 2021 option is the Dec 2021 Future.
Option Style 	European 	European 	European
Option Premium 	Futures Style 	Futures Style 	Futures Style
Position Limit 	There are no Iimits. 	There are no Iimits. 	There are no Iimits.
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, three Exchange Trading days before the expiry of the corresponding March, June, September, or December contract month of the EUA Futures Contract. 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, three Exchange Trading days before the expiry of the corresponding March, June, September, or December contract month of the EUA Futures Contract. 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, three Exchange Trading days before the expiry of the corresponding March, June, September, or December contract month of the EUA Futures Contract.
Clearing 	The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.	The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.	The Clearing House guarantees financial performance of all ICE Futures contracts registered with it by its clearing members. All ICE Futures Member companies are either members of the Clearing House or have a clearing agreement with a Member who is a member of the Clearing House.
VAT & Taxes 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order. 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order. 	UK's HM Revenue and Customs has confirmed that the trading of the EUA Options Contract on the Exchange between the Member and ICE Clear Europe Limited has been granted interim approval to be zero-rated for VAT purposes under the terms of the Terminal Markets Order.
Exercise 	EUA Futures Options will be exercised into EUA Futures contracts and are of European-style exercise, such that at expiry automatic exercise will occur of options which are one or more ticks in the money (at-the-money and out-of-the-money options will expire). 	EUA Futures Options will be exercised into EUA Futures contracts and are of European-style exercise, such that at expiry automatic exercise will occur of options which are one or more ticks in the money (at-the-money and out-of-the-money options will expire). 	EUA Futures Options will be exercised into EUA Futures contracts and are of European-style exercise, such that at expiry automatic exercise will occur of options which are one or more ticks in the money (at-the-money and out-of-the-money options will expire).
Contract Security 	ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members. 	ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members. 	ICE Clear Europe Limited guarantees the financial performance of all ICE Futures Europe contracts registered in the name of its members.
Daily Margin 	All open contracts are marked to market daily. 	All open contracts are marked to market daily. 	All open contracts are marked to market daily.
Trading System 	Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor. 	Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor. 	Trading occurs on ICE Futures' electronic platform (known as the ICE platform) which is accessible via WebICE or through a conformed Independent Software Vendor.
Trading Model 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours. 	Continuous trading throughout trading hours.
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:00 AM - 12:00 PM
02:00 - 12:00 	1:45 AM
01:45
Trading Hours 	LONDON 	7:00 AM - 5:00 PM
07:00 - 17:00 	6:45 AM
06:45
Trading Hours 	SINGAPORE 	3:00 PM - 1:00 AM
15:00 - 01:00 	2:45 PM
14:45
Codes 	Clearing Admin Name 	EUA 	EUA
Codes 	Physical 	EFO 	EFO
Codes 	Logical 	EFO 	EFO
Codes 	GMI (FC) 	KT 	KT
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE EUA Product Spec
ICE EUA Options Product Spec
Category:Sponsored Pages
Category:Sponsored Pages - ICE
Category:Reserved Pages
Category:Reserved Pages - ICE
Category:Emissions Futures Contracts
Category:Futures Contracts Traded on ICE
Category:Energy Futures Contracts
Category:Futures Data in Template