Asset Class Navigation

Emission Reduction Unit (ERU) Options Contract Specs

Options
Underlying Futures Emission Reduction Unit (ERU) Futures (REU)
Product Symbol CME Globex: ERO
CME ClearPort: ERO
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 Emission Reduction Unit (ERU) Option 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 Emission Reduction Unit (ERU) Option stops trading at 5 p.m. UK time (11 a.m. CT).
Contract Size 1,000 Emission Reduction Unit (ERU) credits. Each ERU is an entitlement to emit one ton of carbon dioxide- equivalent gas.
Price Quotation Euros (€) and cents (¢) per allowance
Minimum Fluctuation €0.01 per allowance (i.e. €10.00 per lot)
Termination of Trading Expires at the close of trading three business days prior to the termination of the underlying In Emission Reduction Unit (ERU) Futures contract.
Listed Contracts CME Globex:

First three consecutive contracts months plus eight quarterly contracts on a rolling basis through March 2015.

CME ClearPort:

First three consecutive contracts months plus eight quarterly contracts on a rolling basis through March 2015.

Settlement Type The Emission Reduction Unit (ERU) Option contract exercises into the Emission Reduction Unit (ERU) Futures contract at the specified strike price. The option is European style. Thus, at expiry, automatic exercise will occur for options that are one or more ticks in-the-money. At-the-money options will lapse.
Position Limits NYMEX Position Limits
Rulebook Chapter 1259
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.