North American Carbon Contracts on Nodal Exchange
Learn more about trading carbon allowance futures and options for the WCI and RGGI programs.
North American Carbon Contracts
North American carbon markets on Nodal Exchange include the Western Climate Initiative (WCI) and Regional Greenhouse Gas Initiative (RGGI). Both programs extend out to 2030.
WCI & RGGI Futures
- CCA vintages include 2017-2025
- RGGI vintages include 2017-2025
- Physically delivered into the registries
- Contract size: 1,000 allowances
- Priced in US dollars
- Minimum Tick Size: $0.01 per carbon
allowance - Last Trading Day: 3 Business Days, prior to
the last business day of the delivery month
Physical Delivery on the last trading day of
the contract month
WCI & RGGI Options
- CCA and RGGI vintages include 2017-2025
- European style (exercise only at expiry)
- Equity style premium (premium paid up front)
- Lot Size: 1 lot of the underlying contract
- Priced in US dollars
- Minimum Tick Size: $0.001 per allowance
- Strike Price Intervals: $0.05 above and below the at-the-money strike price
- Exercise: Automatic on the Last Trading Day unless the Exchange is notified to allow the in-the-money options to expire without exercise or exercise expiring out-of-the-money options
Key benefits of trading on Nodal Exchange
- Effective hedging for North American carbon markets
- Efficient delivery process
- Letters of credit available as collateral
- Capital efficiencies through portfolio margining
- Products are listed, traded and cleared along side RECs, Renewable Fuels, Power and Natural Gas futures
- All Cleared by Nodal Clear
- Competitive transaction costs
- No membership or data fees
- Experienced team dedicated to product development and customer support
- Effective hedging for North American carbon markets
- Efficient delivery process
- Letters of credit available as collateral
- Capital efficiencies through portfolio margining
- Products are listed, traded and cleared along side RECs, Renewable Fuels, Power and Natural Gas futures
- All Cleared by Nodal Clear
- Competitive transaction costs
- No membership or data fees
- Experienced team dedicated to product development and customer support
Fees
| CCA Fee Type | Futures | Options |
|---|---|---|
| Screen Execution | $2.00 | $2.00 |
| Clearing | $2.50 | $2.50 |
| Delivery | $4.00 | $2.00 |
| RGGI Fee Type | Futures | Options |
|---|---|---|
| Screen | $0.75 | $0.75 |
| Clearing | $1.00 | $1.00 |
| Delivery | $2.00 | $2.00 |
ADDITIONAL RESOURCES
NA Carbon Contract and
Exchange Information
Webpage
Washington State
Carbon Market
Webpage
NA Carbon Contracts
on Nodal Exchange
This page is for illustrative purposes only. For official contract and trading information, please visit Nodal Exchange