DESCRIPTION: SFICVD

Exchange Code:

03

Commodity Code:

KV

Contract Size:

25 tons

Clearing Price Format:

U.S. Dollars and Cents per contract

Sample price:

Actual = $301.20 per contract

7 digit = 0030120

Price Limits:

50 ticks ($1,250) up and down from the previous trading day’s settlement price. The price limits will be expanded to 75 ticks ($1,875) for all months for three consecutive trading days after one or more contract month(s) settle at the daily price limit. Price limits will not be applied for an expiring contract month effective the first trading session of the expiring calendar month.

Minimum Tick Increment:

$1.00 per ton = $25.00 per contract

Last Trading Day

Last business day of the expiration month

Deliverable Instruments:

Environmental Protection Agency SO² emission allowances equal to the contract size. SO² emission allowances acceptable for delivery are: allowances having a vintage corresponding to the calendar year of the contract expiration and allowances having a vintage of any year prior to the calendar year of the contract expiration.

Delivery Process:

CCorp participants and parties trading the market must have SO² registry accounts established with the Environmental Protection Agency. Delivery is a three day process consisting of Position Day, Intention Day and Delivery/Payment Day. The three days occur over three consecutive business days.

Trading Hours (CT):

10:00 a.m. – 12:30 p.m. (CT)

Contract Months:

Three consecutive quarterly contracts with an option to offer serial monthly contracts.

Reportable Position Limits:

25 contracts equivalent to 625 tons

Speculative Position Limits:

10,000 contracts, equivalent to 250,000 tons