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July Highlights:
- ECX July volumes reached a total of 346 Mt, exceeding the previous monthly record in June (295 Mt). July 2008 volume represents almost a three-fold increase over the same month last year.
- Average daily volumes for the month of July in EUA and CER futures and options rose to 15 Mt (15,056 lots) from 14 Mt (14,408 lots) at the end of June. Screen-traded EUA futures volumes continued to grow and reached 4.6 Mt average daily.
- July experienced significant price volatility in the benchmark Dec-08 EUA and CER contracts. The EUA Dec-08 settled at €29.33 in the beginning of the month and fell by €6.72 to €22.06 on the last trading day of the month. The CER Dec-08 began the month at €21.91 and dropped by €4.19 to €17.72. The Dec-08 EUA-CER spread has narrowed from €7.87 at the end of June to €4.34 at the end of July.
- Open interest in all ECX contracts continue to grow at a steady pace and currently stand at 212 Mt in EUA futures, 107 Mt in EUA options, 60 Mt in CER futures and 26 Mt in CER options.
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