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HIGHLIGHTS
2010 ECX trading volumes continued to climb with a total of 476,433,000 tonnes changing hands in March.
This is despite the marked decline in Volatility in the emissions market over the past 12 months – see chart 2. The total high-low range for March in the front December EUA future has reduced from €3.44 in 2009 to €1.01 in 2010 (average intraday range narrowed from €0.83 to €0.27).
Volumes in ECX Daily Futures rose again to establish another monthly volume record of 24,372 contracts. This represents a 32.4% share of the total exchange-traded spot market with over 1 million tonnes traded on average per day – see the monthly volume growth in chart 5 below.
March was also a record month for ECX Options with 79,350 contracts cleared on the exchange – 63,500 of which were EUA Dec10 options. In addition each of the 2010 Serial Options (quarterly contracts) saw an increase in activity during the month.
Total Open Interest grew by more than 10% in March and currently stands at over 775 Mt; year-on-year open interest has increased by 50%.
ECX/ ICE Futures Europe would like to welcome two New Members: Greyhound Energy Markets Ltd and Energa-Obrót SA.
Casey Zils has joined the ECX team as Web and Data Manager, replacing Henry Bakker who has left the company.
Please click here for full details.
