Following the successful launch of CER Futures and Options contracts in 2008 and the subsequent development of liquidity in these contracts, ECX and ICE Futures Europe introduced the CER Emissions Index on 12 January 2009. This complements the two existing ECX EUA indices, the EUA morning marker and the EUA index, published since January 2006.
The CER Emissions Index will be determined by a trade-weighted average of trades in ICE ECX CER futures Contracts during the trading day. The CER Emissions Index will be published shortly after the close of trading at 17.30 UK local time. The CER Emissions Index will be prepared for the ‘front’ March and 4 December contract months from 2009-2012.
The CER Emissions Index will be calculated as follows:
Sum (Trade Volume multiplied by Trade Price) for each contract month divided by Total Daily Volume (minus EFP, EFS, Blocks and Contra Volume)
In the absence of a minimum of 20 lots being traded in a contract month, the price will be determined by reference to the Official Settlement Price for the contract month.
ECX EUA and CER indices can be used by the market as pricing benchmarks but are not tradable contracts. To view the indices, please visit www.ecx.eu (See ECX indices under Market Data)
