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On Friday, 18 January 2008, a new daily record was achieved in trading of EUA futures on the market for emission allowances operated by European Energy Exchange AG (EEX) and Eurex AG: 301,000 EUAs were traded. In January, a total of 2,081,000 EUAs has already been traded.
Since 5 December 2007, EEX and Eurex have offered their customers trading of CO2 emission allowances (EUA futures) via a joint platform. 10 new trading participants were connected in the framework of the co-operation, while another eight are in the process of licensing. This means a total of 110 trading participants have now been licensed for trading in EUA futures on EEX. Since the launch of the co-operation on 5 December 2007, more than 3 million EUA futures have been traded. Moreover, the trading participants also benefit from the development of the spreads – the differences between the buying and the selling rate. On average, these have fallen to 5 to 9 cents.
Peter Reitz, member of the managing board of Eurex, commented: “The increasing trade volumes show that our co-operation is generating its first successes. The high degree of interest on the part of our trading participants, in particular from the USA, confirms the attractiveness of the market for the trading participants from the financial market.” Maik Neubauer, member of the managing board of EEX, added: “The development of the spreads shows that we do not have to shrink from the comparison with other markets.”
In order to promote trading, since the start of the co-operation, EEX has reduced the trading fee for exchange transactions in emission products to EUR 0.001 per t of CO2. Moreover, the exchange also charges a fee of 0.001 per t of CO2 for the registration of OTC transactions on EEX. The price reduction is valid until the end of March 2008.
About EEX
EEX operates Spot and Derivatives Markets for energy products. With 190 trading participants from 20 countries it is the energy exchange in continental Europe which boasts the biggest number of trading participants and the highest turnover. While coal is only quoted on the Derivatives Market, power, natural gas and EU emission allowances are traded both short-term on the Spot Market and long-term on the Derivatives Market with a time horizon of up to six years into the future. Clearing of exchange and over-the-counter transactions (OTC clearing) is provided by European Commodity Clearing AG (ECC). ECC is the clearing house of EEX and a subsidiary of the exchange.
About Eurex
The international derivatives exchange Eurex, a subsidiary of Deutsche Börse AG and SWX Swiss Exchange, organises markets worldwide. Eurex offers a broad range of Euro-zone interest rate and equity index benchmark derivatives. Moreover, the portfolio also comprises the biggest equity options exchange in the world – the International Securities Exchange (ISE). Eurex Repo and Eurex Bonds round off the offer in the field of repo and bond trading. With Eurex Clearing AG Eurex also has an automated and integrated clearing house in addition. The global liquidity network of Eurex comprises more than 550 direct trading participants in 20 countries.
