ICE Futures Europe Auction Process Guide
This file provides detailed instructions on the ICE Futures Europe auction process. It outlines the procedures for participants, bidding formats, and the auction timeline. Essential information is also included for successful bidders for payment and settlement.
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How do I fill this out?
To fill out this document, start by identifying if you're bidding on your own account or on behalf of a client. Ensure you have the correct bid volume ready in multiples of 500. Finally, prepare the bid price in pounds sterling to two decimal places.
How to fill out the ICE Futures Europe Auction Process Guide?
1
Identify if you're bidding on your own account or on behalf of a client.
2
Prepare your bid volume in multiples of 500.
3
Specify your bid price in pounds sterling to two decimal places.
4
Submit your bid during the designated auction window.
5
Ensure your Clearing Member has set up your trading limits.
Who needs the ICE Futures Europe Auction Process Guide?
1
Traders wanting to participate in the ICE Futures Europe auctions.
2
Businesses requiring carbon allowances for compliance.
3
Financial institutions managing client bids for carbon futures.
4
Regulatory bodies monitoring auction activities for compliance.
5
Environmental organizations interested in market trends.
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What are the instructions for submitting this form?
To submit this form, review all entries for accuracy and completeness. Ensure that any bids placed are within the designated auction timeframe. You may submit your completed form via email to the designated Auctioneer contact or through the online portal provided by ICE.
What are the important dates for this form in 2024 and 2025?
Important auction dates for 2024 and 2025 will be announced on the ICE Report Centre. Stay tuned for updates regarding bidding windows and auction schedules. Ensure to check back regularly for the latest information.
What is the purpose of this form?
The purpose of this form is to facilitate participation in the ICE Futures Europe auctions. It provides a structured way for bidders to submit their sealed bids while ensuring compliance with the auction regulations. Understanding this form is essential for successful participation in the carbon trading market.
Tell me about this form and its components and fields line-by-line.
- 1. Bidder Identity: Details of the individual or entity submitting the bid.
- 2. Client Identity: Information about the client, if the bid is on their behalf.
- 3. Bid Volume: The quantity of UKAs bid, in multiples of 500.
- 4. Bid Price: The price per UKA specified in pounds sterling to two decimal places.
What happens if I fail to submit this form?
Failing to submit this form may result in missing the opportunity to participate in the auction. Ensure all sections are completed accurately and submitted before the deadline.
- Missed Auction Opportunity: You may not be able to participate in the auction if your submission fails.
- Inaccurate Bids: Incorrect information can lead to rejected bids.
- Legal Consequences: Failure to comply with regulations can result in penalties.
How do I know when to use this form?
- 1. Bidding Participation: Required for submitting bids in the ICE auction.
- 2. Client Representation: Utilized by participants bidding on behalf of clients.
- 3. Compliance Checks: Necessary for ensuring all auction regulations are met.
Frequently Asked Questions
How do I begin the auction process?
Start by submitting your sealed bids during the auction window.
What information is needed in my bid?
Your bid should include the identity of the bidder, bid volume, and bid price.
How are bids ranked in the auction?
Bids are ranked in descending order based on the bid price.
How is the auction clearing price determined?
The clearing price is set where the total bid volume meets or exceeds the available quantity.
What happens after I submit my bid?
You will receive a notification about the auction results shortly after it closes.
Can I edit my bid during the auction?
Yes, you can amend or withdraw bids at any time during the two-hour bidding window.
What are the auction results communicated?
Results include the auction clearing price, total bids submitted, and successful bidders.
What happens if I win the auction?
Successful bidders must pay the auction clearing price to receive their allowances.
Where can I find the auction announcements?
Auction results will be published on the Exchange's Report Centre.
How can I contact for further information?
You can reach out to George von Waldburg for inquiries regarding the auction process.
