Emissions products support trading of futures and options based on emissions and air quality. Three types of contracts are currently available:

Greenhouse Gas contracts
Nitrogen Oxide contracts
Sulfur Dioxide contracts

This topic describes functionality specific to emissions products on CME Globex.

Daily European Union Allowance Futures

Daily European Union Allowance (EUA) Futures are a daily expiration futures instrument having product-specific functionality within CME Globex.

For the Daily EUA futures contract, the listing schedule includes two (2) daily contracts available for trading at any one time: the current trade date, and the following trade date (the contract date).

On the last trade date, trading halts at 11:00 a.m. Central Time (CT) and the Exchange for Related Position (EFRP) transaction session ends at 12:00 p.m. (CT).

During the week of October 31 through November 7, due to the end of British Summer Time (BST), trading halt occurs at 12:00 p.m. (CT) and the EFRP transaction session ends at 1:00 p.m. (CT).

The market data Security Definition message (tag 35-MsgType=d) supports this product as follows.

Product	Tag 6937-Asset	Tag 1151-SecurityGroup	Tag 207-SecurityExchange	Tag 872-InstAttribValue	Tag 200-MaturityMonthYear
European Union Allowance (EUA) Daily Futures	EUL	VE	GREE	17=daily product eligibility	YYYYMMDD

Tag 55-Symbol identifies daily futures instrument attributes as follows.

EUL=product code
Z=maturity month
0=maturity year (i.e. 2010)
10=maturity calendar date

EUA Daily vs. In Delivery Month Intercommodity Spread

The daily EUA instrument is spread against the delivery month EUA instrument to create a daily vs delivery month intercommodity spread. The spread is listed and expired according to the daily instrument.

Product	Tag 6937-Asset	Tag 1151-SecurityGroup	Tag 762-SecuritySubType
Daily European Union Allowance (EUL) vs In Delivery Month European Union Allowance (EAF) Intercommodity Spread	EUL	VE	IS