EEX: Successful Start Of Continuous Trading With CO2 Allowances

EEX reported on August 5 that the start of continuous trading with CO2 Allowances at the European Energy Exchange in Leipzig was successful. In the first hour of trading, 22.000 Allowances changed hands, at the end of trading it was 38.450. Additionally, 4.000 Allowances were traded at the intraday auction as well as another 1.000 from the also newly implemented OTC clearing.

As of yesterday, August 4, on, EEX offers continuous trading additionally to the auction that is still held. Dr. Hans-Bernd Menzel, CEO of EEX, referred to the advantages of both models: “Especially in times of large price fluctuations, continuous trading from 9 a.m. to 5 p.m. offers flexible opportunities for deals; auction trading in turn focuses volumes in a certain point of time.” EEX participants would now have the free choice between the two market models, according to Menzel, “and that without any additional costs.”

The EEX operates a Spot and a Derivatives Market for energy and energy-related products and, with 128 trading participants from 16 countries, it is the energy exchange in Continental Europe which boasts the highest number of participants and the biggest turnover. Besides electricity and electricity futures and options, since March 2005 also CO2 Emission Allowances are being traded. The range of services provided by EEX is complemented with related activities, such as the joint clearing of exchange transactions and over-the-counter transactions (OTC clearing).