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Trading volumes of emissions products on the European Climate Exchange (ECX) yesterday surpassed 5 billion tonnes for the year-to-date.
ECX, a subsidiary of Climate Exchange plc (CLE),operates together with ICE Futures Europe to provide the world’s most liquid platform for trading in carbon-related products. ECX started operations in 2005 and has experienced consistently strong growth since its inception. The 2009 year-to-date volumes, which are up 81% over 2008, are made up of 4.2 billion tonnes of European Union Allowances (EUAs) and 0.8 billion tonnes of Certified Emission Reductions (CERs).
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Patrick Birley, Chief Executive of ECX, commented “It seems fitting that we should reach this milestone as the worlds’ policy makers are debating the future of climate change mitigation efforts in Copenhagen. The leadership shown by the European Union in implementing a cap-and-trade mechanism has created a template that others can, and should, easily follow. The existence of a well-regulated, transparent and liquid market on ECX provides industry with the tools to manage the new risks that are inherent in such a mechanism, thereby allowing policy makers to concentrate on ensuring they set appropriate limits to achieve the necessary environmental objectives.”
ICE ECX EUA and CER 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.
Please proceed to this link to see price, volume and open interest figures: http://www.ecx.eu/ECX-Historical-Data
