Emissions Secondary Market

Contracts

EUA Spot (Daily Expiry)

Underlying

EU Allowances (EUA), which permit to emit one ton of carbon dioxide equivalent (directive 2003/87/EC)

Contract volume

1,000 EUA (1 lot)

Minimum Lot Size

1 lot

Minimum Tick

€ 0.01 per EUA

Minimum price flux

€ 10.00 per lot (€ 0.01 per EUA)

Form of Trading

Continuous Trading, Auctioning

Fulfilment Date

First ECC business day after the conclusion of the contract for trades concluded before 4:00 p.m. CET. Trades after 04:00 p.m. are settled on the day after the first business day.

Escrow Accounts

EUAs are held in escrow by ECC Lux as collateral security (Article 2(m),166 (3) 1 German Insolvency Statute)

Transfer of EUAs

Participants are entitled to transfer EUAs, held in escrow for them, to a registry account specified by them. The transfer is executed at the latest on the first subsequent ECC business day.

Sale of EUAs

Sales need to be backed by a sufficient stock of EUAs in the internal delivery account at ECC.  EUAs shall be transferred to the internal delivery account at ECC beforehand (EU-100-5016813-0-69).

Contracts

EUA Future (Monthly, Quarterly and Yearly Expiries)

Underlying

EU Allowances (EUA), which permit to emit one ton of carbon dioxide equivalent (directive 2003/87/EC)

Delivery periods

• Monthly futures: current and the next 2 months, if no December or Quarter Future expires at the respective maturity date
• Quarterly futures: current and the next 11 quarters, if no December future expires at the respective maturity date
• Yearly futures: December maturities for the current and the next 8 years

Contract volume

1,000 EUA (1 lot)

Minimum Tick

€ 0.01 per EUA

Minimum price flux

€ 10.00 per lot (€ 0.01 per EUA)

Last trading day

Last Monday of the contract month. In case, the last Monday is not an ECC business day (incl. UK Bank Holidays) or there is a Non ECC business day in the 4 days following the last Monday, the last day of trading will be the Monday before the last Monday of the contract month.

Delivery

The second ECC business day after the last trading day.

Escrow Accounts

EUAs are held in escrow by ECC Lux as collateral security (Article 2(m),166 (3) 1 German Insolvency Statute)

Transfer of EUAs

Participants are entitled to transfer EUAs, held in escrow for them, to a registry account specified by them. The transfer is executed at the latest on the first subsequent ECC business day.