Nevertheless, it will not be possible to start trading on January 3rd 2005 because the secure ownership transfer of traded CO2-emission allowances can currently not be assured under realtime conditions. In general this will be possible through the German registry (Deutsche Emissionshandelsstelle DEHSt). DEHSt is already issuing the allocation notifications for CO2-emission allowances; however a first legal assessment by EEX of the possibility to trade during an intermediary stage on the basis of a pledge of these allocation notifications has shown, that this would not provide the legal security that is required for a solid clearing process.
Trading with CO2-emission allowances can therefore start at EEX only with the launch of the account management at DEHSt. Trading will be done on the XETRA system, one of the leading systems for exchanges worldwide. In the near future, EEX will also use the XETRA system for spot trading in electricity.
Already since the end of October, EEX is publishing with the European Carbon Index a daily market price for CO2-emission allowances. On December 17th the price for one ton of CO2 is 8.45 Euro.