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European Climate Exchange (ECX) launched the ICE ECX CER Options Contract, based on its successful ICE ECX CER Futures Contract, last Friday 16 May. The first CER options trade was a put option at a strike price of €14 transacted between BNP Paribas and orbeo at 15:50 hours UK local time for 250 lots (equivalent to 250,000 tonnes CERs). The deal was brokered by Tullett Prebon.
Total CER options volume for the day on ECX/ ICE Futures amounted to 1250 lots (equivalent to 1,250,000 tonnes CERs).
Patrick Birley, CEO of ECX, commented: “ECX is pleased to expand its products tailored to the needs of its diversified client base. Listed CER options will bring an added measure of versatility to those who wish to hedge their CDM portfolio as well as new trading and investment opportunities.”
The ICE ECX CER Futures Contract, launched on 14 March 2008, has reached a daily average volume of over 1000 lots (equivalent to 1 million tonnes CERs).
ECX emissions contracts are listed and admitted to trading on the ICE platform. Access for the trading of ICE ECX EUA and CER Contracts can be secured by becoming an ICE Futures Member or order-routing as a client of an ICE Futures Member. There are currently 90 members signed up for ECX emissions on ICE Futures, including major utilities, industrials as well as leading financial institutions - a full list can be found at www.ecx.eu.
