ICE California Carbon Allowance Specific Vintage 2022

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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".

California Carbon Allowance Specific Vintage 2022 Futures
Trading Screen Product Name CCA Specific Futures
Trading Screen Hub Name CCAS V22
Contract Symbol CC1: Vintage 2022
Settlement Method Physical delivery
Contract Size 1,000 California Carbon Allowances
Currency USD
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 specified vintage year only.

Registry California MTS
MIC Code IFED
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 7:50 PM - 6:00 PM

19:50 - 18:00

7:40 PM

19:40

LONDON 12:50 AM - 11:00 PM

00:50 - 23:00

12:40 AM

00:40

SINGAPORE 8:50 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 CCA
Physical CC2
Logical CC2
GMI (FC) L-
ION A.C.N. None
California Carbon Allowance Vintage Specific 2022 Options
Trading Screen Product Name CCA Specific Futures
Trading Screen Hub Name CCAS V22
Contract Symbol CC1: Vintage 2022
Settlement Method Exercise into Underlying Futures Contract
Contract Size 1 California Carbon Allowances Futures
Currency USD
Minimum Price Fluctuation The price quotation convention shall be One cent ($0.01) per metric ton; 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

Strike Price Intervals A minimum of ten Strike Prices in increments of $0.05 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 $0.05 increments
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.
Option Style European
Exercise Automatic

Clearing Members shall provide exercise and abandon instructions to the Clearing Organization in accordance with the Clearing Organization rules

Exercise Time 5:30 pm EPT on the Last Trading Day

MIC Code IFED
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 7:50 PM - 6:00 PM*

19:50 - 18:00

7:40 PM

19:40

LONDON 12:50 AM - 11:00 PM*

00:50 - 23:00

12:40 AM

00:40

SINGAPORE 8:50 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 CCA
Physical CC2
Logical CC2
GMI (FC) L-
ION A.C.N. None

Notes[edit]

References[edit]

Resources[edit]

ICE California Carbon Allowance Specific Vintage 2022 Product Spec

ICE Option on California Carbon Allowance Vintage Specific 2022 Product Spec