RD1 | JREDD+ Carbon Offset Units Futures Contract

Trade Nature Based Avoidance carbon offset units with Abaxx's JREDD+ futures contract. REDD+ stands for Reducing Emissions from Deforestation and Forest Degradation, and encompasses all activities aimed at protecting forests from deforestation.

Designed for traders and commercial participants, this physically-deliverable benchmark offers reliable price discovery and a better hedging instrument for companies engaging in nature-based carbon projects and offsetting as part of their climate strategies.

Abaxx's JREDD+ Carbon Offset Unit (RD1) futures contract is a US dollar-denominated, 100 tCO2e contract, deliverable on Verra and Architecture for REDD+ Transactions (ART) registries.

Contract Specs

Rulebook Chapter|Fees|Contract Summary

Contract Name	JREDD+ Carbon Offset Unit Futures
Contract Symbol	RD1
Rule Chapter	700
Settlement Method	Physical
Contract Months	Up to 14 contracts (comprising at least three December contracts and any number of serial (non-rolling) monthly contracts for January through November)
Pricing Terms	USD and cents / tCO2e
Contract Size	100 tCO2e of Eligible REDD+ Carbon Mitigation Outcome Units
Minimum Price Movement	USD 0.01 per tCO2e
Trading Hours	1000 – 2400 SGT
Price Limits	Fixed price limits which will be published via circulars
Settlement Price Period	Daily Settlement Price Period – Five (5) minutes ending 2230 SGT Final Settlement Price Period – Thirty (30) minutes ending 2230 SGT on the Last Trading Day Note: times are subject to change to accommodate holidays and scheduled modifications announced by Exchange in advance
Final Settlement Price	The Final Settlement Price is the volume weighted average price for all trades done during Final Settlement Price Period of the contract rounded to the nearest $0.01 or as determined by the Exchange at its discretion using available information from related markets.
Last Trading Day	The second Business Day preceding the Delivery Date
Block Trade Minimum	5 lots
Reportable Level	25 lots
Position Limits (Spot Month)	1,000 lots
Position Accountability Levels (any/all month)	5,000 lots
Eligible Voluntary Carbon Standard	Verified Carbon Standard: (a) Any REDD+ methodology where the project or program is subject to the JNR Framework; and/or (b) VM0048 Reducing Emissions from Deforestation and Forest Degradation ART Program: TREES Standard
Carbon Mitigation Outcome Unit Type	• VCU that is not labelled with a Removal Label • ART Credit that is not labelled with a Removal Label
Vintage	2021 - 2025 (both years inclusive)
Delivery Date	The first Business Day of the Contract Month that is not preceded by a Business Day that is a US bank holiday, else it will be the next Business Day that is not preceded by a Business Day that is a US bank holiday.
Eligible Carbon Registry	• Verra Registry • ART Registry
Product Placement	The Seller shall adequately demonstrate commercial capability and the ability to effect delivery of a quantity and quality of Eligible REDD+ Carbon Mitigation Outcome Units prior to the last five (5) Trading Days of the Contract. The Buyer shall adequately demonstrate commercial capability and the ability to take delivery of Eligible REDD+ Carbon Mitigation Outcome Units at all Eligible Carbon Registries prior to the last five (5) Trading Days of the Contract. Failure to demonstrate the above capabilities can result in liquidation of position.
Notice of Intention to Accept	Submitted by Clearing Member having open long positions on the Business Day following Last Trading Day
Notice of Intention to Deliver	Submitted by Clearing Member having open short positions on the Business Day following Last Trading Day
Delivery Margins	On the Business Day following Last Trading Day, the Buyer’s Clearing Member and the Seller’s Clearing Member shall deposit with the Clearing House margins in such amounts and in such form as may be required by the Clearing House. Such margins shall be returned as per the following: (i) receipt by the Clearing House of a Confirmation of Receipt; or (ii) In the event of any dispute between the Parties: (a) upon settlement of the dispute in writing by mutual agreement of Parties and authorized by the Clearing House, or (b) upon the issuance of an Award or judgment finally resolving the dispute between the Parties and the Parties have duly performed their obligations under the said Award or judgment; or (iii) where the Buyer and Seller elected for ADP (Alternate Delivery Procedures), in accordance with Rule 709 of the Contract.
Delivery and Payment	By 1600 SGT on the Business Day following Last Trading Day the Buyer’s Clearing Member shall obtain from the Buyer an amount equal to the Contract Value and deposit that amount with the Clearing House. The Seller will deliver, no later than the Delivery Date, the requisite number of Eligible REDD+ Carbon Mitigation Outcome Units to the Buyer, pursuant to Rule 706.1. Delivery can be made from or taken by a Custodian account opened for the benefit of the Buyer or Seller. A Custodian is an eligible custodian on the Exchange’s list of custodians as informed by the Exchange via Circular. By 1200 SGT on the Delivery Date, the Seller shall send to the Buyer and the Clearing House details including the registry and the list of serial numbers of Eligible REDD+ Carbon Mitigation Outcome Units Delivered. On or within three (3) Business Days after the Delivery Date, the Clearing House shall promptly furnish to Buyer’s Clearing Member a confirmation and a notice pursuant to Rule 707.3(A)(ii). The Buyer’s Clearing Member, on behalf of the Buyer, will submit a Confirmation of Receipt to the Clearing House to confirm receipt and accuracy of the sum due as soon as possible, but no later than 1200 SGT the Business Day following receipt of the notice issued as per Rule 707.3(A)(ii). The Clearing House shall upon receipt of Confirmation of Receipt from the Buyer’s Clearing Member promptly release to the Seller’s Clearing Member the sum due noted in the notice issued by the Clearing House as per Rule 707.3(A)(ii).
Venue of Arbitration	Singapore International Arbitration Centre (SIAC)

RD1 | JREDD+ Carbon Offset Units Futures Contract

Abaxx's JREDD+ Carbon Offset Unit (RD1) futures contract is a US dollar-denominated, 100 tCO2e contract, deliverable on Verra and Architecture for REDD+ Transactions (ART) registries.

Contract Specs

Rulebook Chapter|Fees|Contract Summary

Contract Name	JREDD+ Carbon Offset Unit Futures
Contract Symbol	RD1
Rule Chapter	700
Settlement Method	Physical
Contract Months	Up to 14 contracts (comprising at least three December contracts and any number of serial (non-rolling) monthly contracts for January through November)
Pricing Terms	USD and cents / tCO2e
Contract Size	100 tCO2e of Eligible REDD+ Carbon Mitigation Outcome Units
Minimum Price Movement	USD 0.01 per tCO2e
Trading Hours	1000 – 2400 SGT
Price Limits	Fixed price limits which will be published via circulars
Settlement Price Period	Daily Settlement Price Period – Five (5) minutes ending 2230 SGT Final Settlement Price Period – Thirty (30) minutes ending 2230 SGT on the Last Trading Day Note: times are subject to change to accommodate holidays and scheduled modifications announced by Exchange in advance
Final Settlement Price	The Final Settlement Price is the volume weighted average price for all trades done during Final Settlement Price Period of the contract rounded to the nearest $0.01 or as determined by the Exchange at its discretion using available information from related markets.
Last Trading Day	The second Business Day preceding the Delivery Date
Block Trade Minimum	5 lots
Reportable Level	25 lots
Position Limits (Spot Month)	1,000 lots
Position Accountability Levels (any/all month)	5,000 lots
Eligible Voluntary Carbon Standard	Verified Carbon Standard: (a) Any REDD+ methodology where the project or program is subject to the JNR Framework; and/or (b) VM0048 Reducing Emissions from Deforestation and Forest Degradation ART Program: TREES Standard
Carbon Mitigation Outcome Unit Type	• VCU that is not labelled with a Removal Label • ART Credit that is not labelled with a Removal Label
Vintage	2021 - 2025 (both years inclusive)
Delivery Date	The first Business Day of the Contract Month that is not preceded by a Business Day that is a US bank holiday, else it will be the next Business Day that is not preceded by a Business Day that is a US bank holiday.
Eligible Carbon Registry	• Verra Registry • ART Registry
Product Placement	The Seller shall adequately demonstrate commercial capability and the ability to effect delivery of a quantity and quality of Eligible REDD+ Carbon Mitigation Outcome Units prior to the last five (5) Trading Days of the Contract. The Buyer shall adequately demonstrate commercial capability and the ability to take delivery of Eligible REDD+ Carbon Mitigation Outcome Units at all Eligible Carbon Registries prior to the last five (5) Trading Days of the Contract. Failure to demonstrate the above capabilities can result in liquidation of position.
Notice of Intention to Accept	Submitted by Clearing Member having open long positions on the Business Day following Last Trading Day
Notice of Intention to Deliver	Submitted by Clearing Member having open short positions on the Business Day following Last Trading Day
Delivery Margins	On the Business Day following Last Trading Day, the Buyer’s Clearing Member and the Seller’s Clearing Member shall deposit with the Clearing House margins in such amounts and in such form as may be required by the Clearing House. Such margins shall be returned as per the following: (i) receipt by the Clearing House of a Confirmation of Receipt; or (ii) In the event of any dispute between the Parties: (a) upon settlement of the dispute in writing by mutual agreement of Parties and authorized by the Clearing House, or (b) upon the issuance of an Award or judgment finally resolving the dispute between the Parties and the Parties have duly performed their obligations under the said Award or judgment; or (iii) where the Buyer and Seller elected for ADP (Alternate Delivery Procedures), in accordance with Rule 709 of the Contract.
Delivery and Payment	By 1600 SGT on the Business Day following Last Trading Day the Buyer’s Clearing Member shall obtain from the Buyer an amount equal to the Contract Value and deposit that amount with the Clearing House. The Seller will deliver, no later than the Delivery Date, the requisite number of Eligible REDD+ Carbon Mitigation Outcome Units to the Buyer, pursuant to Rule 706.1. Delivery can be made from or taken by a Custodian account opened for the benefit of the Buyer or Seller. A Custodian is an eligible custodian on the Exchange’s list of custodians as informed by the Exchange via Circular. By 1200 SGT on the Delivery Date, the Seller shall send to the Buyer and the Clearing House details including the registry and the list of serial numbers of Eligible REDD+ Carbon Mitigation Outcome Units Delivered. On or within three (3) Business Days after the Delivery Date, the Clearing House shall promptly furnish to Buyer’s Clearing Member a confirmation and a notice pursuant to Rule 707.3(A)(ii). The Buyer’s Clearing Member, on behalf of the Buyer, will submit a Confirmation of Receipt to the Clearing House to confirm receipt and accuracy of the sum due as soon as possible, but no later than 1200 SGT the Business Day following receipt of the notice issued as per Rule 707.3(A)(ii). The Clearing House shall upon receipt of Confirmation of Receipt from the Buyer’s Clearing Member promptly release to the Seller’s Clearing Member the sum due noted in the notice issued by the Clearing House as per Rule 707.3(A)(ii).
Venue of Arbitration	Singapore International Arbitration Centre (SIAC)

RD1 | JREDD+ Carbon Offset Units Futures Contract

Abaxx's JREDD+ Carbon Offset Unit (RD1) futures contract is a US dollar-denominated, 100 tCO2e contract, deliverable on Verra and Architecture for REDD+ Transactions (ART) registries.

Contract Specs

Rulebook Chapter|Fees|Contract Summary

Contract Name	JREDD+ Carbon Offset Unit Futures
Contract Symbol	RD1
Rule Chapter	700
Settlement Method	Physical
Contract Months	Up to 14 contracts (comprising at least three December contracts and any number of serial (non-rolling) monthly contracts for January through November)
Pricing Terms	USD and cents / tCO2e
Contract Size	100 tCO2e of Eligible REDD+ Carbon Mitigation Outcome Units
Minimum Price Movement	USD 0.01 per tCO2e
Trading Hours	1000 – 2400 SGT
Price Limits	Fixed price limits which will be published via circulars
Settlement Price Period	Daily Settlement Price Period – Five (5) minutes ending 2230 SGT Final Settlement Price Period – Thirty (30) minutes ending 2230 SGT on the Last Trading Day Note: times are subject to change to accommodate holidays and scheduled modifications announced by Exchange in advance
Final Settlement Price	The Final Settlement Price is the volume weighted average price for all trades done during Final Settlement Price Period of the contract rounded to the nearest $0.01 or as determined by the Exchange at its discretion using available information from related markets.
Last Trading Day	The second Business Day preceding the Delivery Date
Block Trade Minimum	5 lots
Reportable Level	25 lots
Position Limits (Spot Month)	1,000 lots
Position Accountability Levels (any/all month)	5,000 lots
Eligible Voluntary Carbon Standard	Verified Carbon Standard: (a) Any REDD+ methodology where the project or program is subject to the JNR Framework; and/or (b) VM0048 Reducing Emissions from Deforestation and Forest Degradation ART Program: TREES Standard
Carbon Mitigation Outcome Unit Type	• VCU that is not labelled with a Removal Label • ART Credit that is not labelled with a Removal Label
Vintage	2021 - 2025 (both years inclusive)
Delivery Date	The first Business Day of the Contract Month that is not preceded by a Business Day that is a US bank holiday, else it will be the next Business Day that is not preceded by a Business Day that is a US bank holiday.
Eligible Carbon Registry	• Verra Registry • ART Registry
Product Placement	The Seller shall adequately demonstrate commercial capability and the ability to effect delivery of a quantity and quality of Eligible REDD+ Carbon Mitigation Outcome Units prior to the last five (5) Trading Days of the Contract. The Buyer shall adequately demonstrate commercial capability and the ability to take delivery of Eligible REDD+ Carbon Mitigation Outcome Units at all Eligible Carbon Registries prior to the last five (5) Trading Days of the Contract. Failure to demonstrate the above capabilities can result in liquidation of position.
Notice of Intention to Accept	Submitted by Clearing Member having open long positions on the Business Day following Last Trading Day
Notice of Intention to Deliver	Submitted by Clearing Member having open short positions on the Business Day following Last Trading Day
Delivery Margins	On the Business Day following Last Trading Day, the Buyer’s Clearing Member and the Seller’s Clearing Member shall deposit with the Clearing House margins in such amounts and in such form as may be required by the Clearing House. Such margins shall be returned as per the following: (i) receipt by the Clearing House of a Confirmation of Receipt; or (ii) In the event of any dispute between the Parties: (a) upon settlement of the dispute in writing by mutual agreement of Parties and authorized by the Clearing House, or (b) upon the issuance of an Award or judgment finally resolving the dispute between the Parties and the Parties have duly performed their obligations under the said Award or judgment; or (iii) where the Buyer and Seller elected for ADP (Alternate Delivery Procedures), in accordance with Rule 709 of the Contract.
Delivery and Payment	By 1600 SGT on the Business Day following Last Trading Day the Buyer’s Clearing Member shall obtain from the Buyer an amount equal to the Contract Value and deposit that amount with the Clearing House. The Seller will deliver, no later than the Delivery Date, the requisite number of Eligible REDD+ Carbon Mitigation Outcome Units to the Buyer, pursuant to Rule 706.1. Delivery can be made from or taken by a Custodian account opened for the benefit of the Buyer or Seller. A Custodian is an eligible custodian on the Exchange’s list of custodians as informed by the Exchange via Circular. By 1200 SGT on the Delivery Date, the Seller shall send to the Buyer and the Clearing House details including the registry and the list of serial numbers of Eligible REDD+ Carbon Mitigation Outcome Units Delivered. On or within three (3) Business Days after the Delivery Date, the Clearing House shall promptly furnish to Buyer’s Clearing Member a confirmation and a notice pursuant to Rule 707.3(A)(ii). The Buyer’s Clearing Member, on behalf of the Buyer, will submit a Confirmation of Receipt to the Clearing House to confirm receipt and accuracy of the sum due as soon as possible, but no later than 1200 SGT the Business Day following receipt of the notice issued as per Rule 707.3(A)(ii). The Clearing House shall upon receipt of Confirmation of Receipt from the Buyer’s Clearing Member promptly release to the Seller’s Clearing Member the sum due noted in the notice issued by the Clearing House as per Rule 707.3(A)(ii).
Venue of Arbitration	Singapore International Arbitration Centre (SIAC)