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ECX and ICE Futures Europe today introduced the ICE ECX EUA and CER futures March 2013 contract months for trading on the ICE platform. The first Mar13 CER screen trade was executed at 07.00hrs UK local time at a price of €12.55 per tonne for 10 lots (equivalent to 10,000 CERs). Another CER Mar13 transaction was matched on the platform as a Block Trade at 14.23hrs UK local time at a price of €12.60 per tonne for 50 lots (equivalent to 50,000 CERs). Both transactions involved Eneco Energy Trade as the seller.
Patrick Birley, Chief Executive of ECX, commented: “The March 2013 contracts expand the capability of using ECX contracts to manage price risk throughout Phase II of the EU ETS. We hope this extension will prove helpful to meet the hedging needs of market participants.”
ICE ECX EUA and CER futures contracts allow users to lock in prices for EU Allowances and Certified Emissions Reduction units delivered at set dates in the future in order to secure transparent prices and reduce counterparty risk. ICE Clear Europe acts as central counterparty to all ECX trades.
The ICE ECX EUA and CER futures contracts will expire on Monday 18 March 2013.
