Product Specifications

From December 2007 onwards, Eurex members admitted by EEX are able to access the EEX order book for emissions trading on the common platform used by both exchanges. The following products are available on the common platform for trading from 08:30 until 17:00 CET. OTC Block Trades can be entered until 18:00 CET.

EUA Futures


Contract	Second Period European Carbon Future
Underlying	Delivery or purchase of EU Emission Allowances (EUAs) for the second trading period
Product ID	F2PE
Maturities	Annual futures 2008 to 2012
Maturity Date	Last exchange day in November
Delivery Date	First settlement day in December
Contract Volume	1,000 EUA (one lot)
Quotation	In EUR/EUA; with two decimal places
Fulfillment	Delivery versus payment

CER Futures


Contract	CER Future
Underlying	Delivery or purchase of Certified Emission Reductions (CERs), excluding credits generated from nuclear power projects, LULUCF and hydro power projects > 20 MW.
Product ID	FCER
Maturities	Annual futures for the following five years
Maturity Date	Last exchange day in November
Delivery Date	First settlement day in December
Contract Volume	1,000 EUA (one lot)
Quotation	In EUR/CER; to two decimal places
Fulfillment	Delivery versus payment

Options on EUA Futures


Contract	Second Period European Carbon Option
Underlying	EUA Futures
Product ID	O2PE
Contract Months	European-style Call and Put options for the years 2008 to 2012
Last Trading Day/ Expiry Date	Three exchange days before the final trading day of the underlying future
Exercise	Manual exercise until 15:00 CET on the Last Trading Day. In-the-money options will be exercised automatically.
Assignment	At the end of the Post-Trading Period of the exercise day.
Contract size	1,000 EUA (one lot)
Quotation	In EUR/EUA; to three decimal places
Fulfillment	Booking of the corresponding futures position at the respective exercise price after the option is exercised