ECX launches serial options
The European Climate Exchange (ECX) has launched a serial options contracts for EUA and CER carbon credits, to attract more participation in the options market.
The quarterly serial options, cleared through ICE Clear Europe, introduce additional option contract months for March, June and September, all of which expire into the December futures contract of the equivalent year. For example, on expiry of the Sep09 option, the holder of an in-the-money position will acquire a Dec09 futures position.
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