The European Climate Exchange (ECX) established a new daily record volume on 23rd October with a combined total of 39,169 contracts, representing just over 39 million tonnes of underlying emissions permits. The daily record consisted of 35,690 EUA (European Union Allowance) futures and 3,479 CER (Certified Emission Reduction) futures. The previous record day of 34,316 contracts was set on 6th June 2008. Average daily volumes for October 2008 are running at 17,293 contracts, up from 4,819 contracts in October 2007 representing an increase of 259%.
Patrick Birley, Chief Executive of ECX, commented: “We have seen consistently high volumes over the recent months as interest in carbon trading continues to grow. This new record was set as participants begin rolling their 2008 positions into 2009. It is also worth noting the record levels of ECX’s open interest at almost 500,000 contracts – representing half a billion tonnes of underlying carbon allowances.”
ECX emissions contracts are listed and admitted to trading on the ICE platform. Access for the trading of ICE ECX EUA and CER Contracts can be secured by becoming an ICE Futures Europe Member or order-routing as a client of an ICE Futures Europe Member. There are currently 93 members signed up for ECX emissions on ICE Futures Europe, including major utilities, industrials as well as leading financial institutions - a full list can be found at www.ecx.eu.
