Green Exchange (“GreenX”) announced today that it has won the coveted "Best Newcomer of the Year" Award from Energy Risk, a leading industry publication.
The award citation notes that GreenX “has grown from a standing start in 2008 to become the second largest carbon exchange in the European Union Emissions Trading Scheme. Green Exchange has also entered the North American market and plans to launch more products there and in Europe as both markets progress.”
The award was presented at the Energy Risk Awards Ceremony held in London on the 14th June, which was attended by leading figures and institutions from the commodities, risk management and exchange sectors.
This industry recognition of GreenX’s achievements demonstrates its emergence as a global industry leader. Since the beginning of the year, GreenX launched as an independent exchange, added 14 new clearing members and has traded more than 190,000 contracts. Today, GreenX is fast establishing itself as a premier globally regulated carbon trading platform, offering futures contracts for the European and North American markets.
Growing distribution and customer adoption have resulted in significant futures and options volumes growth on GreenX over the past year. During that same period, new records have been set for exchange-wide open interest and daily trading. This year, daily volume on the exchange has at times represented more than 20% of the total market in European environmental futures and options contracts.
Welcoming the award, GreenX CEO Tom Lewis commented:
“We are honored by the recognition that this award represents from our peers, competitors and customers. These are exciting times indeed at GreenX as we continue to establish our position as an industry leader. We have come a very long way in a short time but our journey is only beginning. We remain focused on further expanding our market share by constantly improving the Exchange’s unique blend of competitive products, technology and financial firepower.”
He continued: “Today we are seeing a flight to quality as the challenging economic environment and regulatory uncertainty drive more business to us. Despite its recent difficulties, we remain optimistic about the European environmental market’s future and are looking to seize new opportunities elsewhere. In particular, we are very positive about the Californian carbon market which will eventually account for a major part of the global market.”
