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CFI Contract Specifications


Product Type
 Cash Product
Contract Size
 100 metric tons
Quotation
 US dollars
Minimum Tick Increment
 $.05 per ton = $5.00 per contract
Symbol
 CFI
Trading Hours
 8:30 a.m. – 2:00p.m. Central Time
Products Offered
 Vintages for 2003 - 2010
Product Availability
 All vintages offered are eligible for trading.
Transaction Methods

 

 

 

 Transaction participation eligibility is limited to CCX members who qualify as eligible commercial entities.
1. CCX offers an internet-based, electronic trading system for submission of bids and offers for anonymous, cleared agreements executed on price and time priority.
2. Electronic bilateral agreements between members
3. Pre-negotiated block trades and cash transactions may be negotiated at any time, but must be reported to CCX in accordance with its rules.
Deliverable Instrument
 CCX Carbon Financial Instrument
Delivery Process
 All transactions are delivered through the CCX Clearing System and are held by the CCX Registry on the trade day.
Earlier dated vintages may be delivered against later vintage trades.
Clearing and Settlement Process
 Transactions (with exception of bilateral agreements) are cleared on trade day. Full contract value settlement occurs on the next business day. CCX substitutes as a counter party to all transactions and guarantees performance until settlement is completed.

Bilateral agreement financial arrangements are settled by the participating parties.
Closing Price

 

 

 

 

 

 

 

 For each Vintage, the closing price will be based on the following criteria:
  1. The last transaction executed on the Trading Platform during a trading session.
  2. If at the close the best bid is above the last trade price or the best offer is below the last trade price, then the closing price will be the best bid / best offer price.
  3. If no trades occur in the trading session, the closing price is the previous day’s closing price unless the best bid is above the previous day’s closing price or the best offer is below the previous day’s closing price, then the closing price will be the best bid / best offer price.
  4. The Exchange reserves the right to take into account other factors in determining closing prices.

A block trade price will not serve as a closing price.
Price Limits
 20% up and down from the previous trading day’s last traded price.

 

This contract specification is only intended to present limited features of the CCX product. For details, consult the CCX Rulebook and CCX Notices.

Download brochure on  Trading CFIs on CCX and CCFE