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Certified Emission Reduction Plus (CERplus) Futures Contract Specs

Product Symbol CME Globex: CPL
CME ClearPort: CPL
Venue CME Globex/CME ClearPort
Hours
(All Times are New York Time/ET)
CME Globex: Sunday - Friday 6:00 PM - 5:15 PM New York Time/ET (5:00 PM - 4:15 PM Chicago Time/CT) with a 45-minute break each day beginning at 5:15 PM New York Time/ET (4:15 PM Chicago Time/CT). On the last trading day, the Certified Emission Reduction Plus (CERplus) Futures stops trading at 5 p.m. UK time (11 a.m. CT).
CME ClearPort Sunday - Friday 6:00 PM - 5:15 PM New York Time/ET (5:00 PM - 4:15 PM Chicago Time/CT) with a 45-minute break each day beginning at 5:15 PM New York Time/ET (4:15 PM Chicago Time/CT). On the last trading day, the Certified Emission Reduction Plus (CERplus) Futures stops trading at 5 p.m. UK time (11 a.m. CT).
Contract Size and Unit 1,000 Certified Emission Reduction (CER) credits. Each CER is an entitlement to emit one ton of carbon dioxide - equivalent gas.
Price Quotation Euros (€) and cents (¢) per allowance
Minimum Fluctuation €0.01 per CER (i.e. €10.00 per lot)
Listed Contracts CME Globex: 3 consecutive months and 8 quarterlies; December through 2020
CME ClearPort and Open Outcry: 3 consecutive months and 8 quarterlies; December through 2020
Termination of Trading Last Monday of the delivery month. If the last Monday of the delivery month occurs on a UK Bank Holiday or, if a UK Bank Holiday occurs on any of the four (4) days following the last Monday of the delivery month, trading shall cease on the penultimate Monday of the delivery month. If the penultimate Monday of the delivery month occurs on a UK Bank Holiday or, if a UK Bank Holiday occurs on any of the four (4) days following the penultimate Monday of the delivery month, trading shall cease on the antepenultimate Monday of the delivery month.
Settlement Type Physical
Delivery Physical delivery occurs at the UK Emissions Trading Registry (UK Registry) two business days after the last trading day. For delivery in Phase II of the EU ETS, which is effective through March 2013, a deliverable CER may be surrendered by an operator or aircraft operator under the EU ETS Directive (without regard to any quantitative restrictions on the ability of any operator or aircraft operator imposed under Article 11a of the EU ETS Directive or otherwise to surrender such CERs). In addition, the CER cannot originate from nuclear facilities; land use, land use change and forestry activities (LULUCF); trifluoromethane (HFC-23) projects; and nitrous oxide (N2O) from adipic acid production. For delivery in Phase III of the EU ETS, which is effective after March 2013, a deliverable CER may be surrendered by an operator or aircraft operator under the EU ETS Directive (without regard to any quantitative restrictions on the ability of any operator or aircraft operator imposed under Article 11a of the EU ETS Directive or otherwise to surrender such CERs). In the case of CERs that are subject to qualitative restrictions, those qualitative restrictions under the EU ETS: (A) can be identified by the Exchange by way of reference to the serial number of the CER subject to such qualitative restriction; and (B) do not render them wholly ineligible for the purpose of surrender under the EU ETS Directive.
Position Limits NYMEX Position Limits
Rulebook Chapter 1256
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.
Product Category Emissions
Product Sub-Category CDM

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