In Delivery Month Certified Emission Reductions (EUR) Options

Contract Size
1,000 CERs

Underlying Currency
Euros and Euro cents

Minimum Tick
€0.01 (1¢) per allowance (€10.00 per contract)

Contract Months
Beginning with September 2009, the last month of each quarter cycle is listed for 4 consecutive years until December 2012.

Trading Hours
Open Outcry: Trading is conducted from 9:00 a.m. to 2:30 p.m. ET CME ClearPort: 6:00 p.m. Sunday through 5:15 p.m. ET Friday, with a 45-minute break between 5:15 p.m. and 6:00 p.m. ET on Mondays through Thursdays.

Termination of Trading
Trading expires at the close of trading three business days prior to the expiration of the underlying In Delivery Month CER futures contract. The expiration date shall be announced prior to the listing of the option contract.

Settlement Type
A European-Style option that exercises into the underlying Futures Contract.

Ten strike prices in increments of €0.50 (50¢) per metric ton per above and below the at-the-money strike price. Strike price boundaries are adjusted according to futures price movements.

Ticker Symbol
6P