TRADING VOLUMES: June saw continued strong activity in the market with 463,149 contracts traded – the third highest month on record on ECX. Average Daily Volume surpassed 21,000 contracts, representing a 57% year-on-year increase.
DAILY FUTURES: Trading volumes in the EUA and CER Daily Futures really woke up during June, an average of 352,000 tonnes traded per day over the month with the high of 778,000 tonnes on 23rd June.
OPEN INTEREST: The number of open positions in ECX futures and options continues to grow and currently stands at 674,675 lots, an increase of almost 10% over the course of the month.
PRICES: Exactly a year after the highs of 2008, EUA prices during June were relatively stable, though the CER-EUA Dec09 swap narrowed to settle at just -1.48. The CER Dec09/Dec10 spread moved into backwardation as hedgers begin to expect delayed issuance.
NEW: The Dec10-Dec12 and Dec11-Dec12 Strips were launched on 22nd June; and from today the new period for determining Settlement Prices will be 16:50:00 – 16:59:59. ECX ‘Serial’ Option Contracts will be listed from 10th July – these are quarterly options expiring into the December futures.
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