EU ETS Phase III Trading Takes Off On ECX - New EUA Dec13 Contract Sees First Trade At €27.70

European Climate Exchange (ECX) yesterday introduced two additional contract months, Dec13 and Dec14, to the EUA forward curve. The first screen trade in the ICE ECX EUA Dec13 futures Contract took place between orbeo and an undisclosed counterparty at 15:51hours UK local time for 10 lots (equivalent to 10,000 EUAs) at a price of €27.70 per tonne.

Jérôme Malka, Managing Director of orbeo, said: “As further details of Phase III begin to emerge, the transparency brought by ECX contracts are crucial in pricing the longer-dated forward curve.”

Sara Stahl, Business Development Manager of ECX, commented: “EU ETS continues to be the centrepiece of global carbon and ECX wishes to support this development. Although the successor to Kyoto has yet to be finalised, it is important to show that there is life post-2012 for the European carbon market.”