ICE Futures Europe Announces Status as Recognised Auction Platform
LONDON, Feb. 20, 2012 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced that the UK’s financial regulator, the Financial Services Authority (FSA) has authorised ICE Futures Europe to operate as a Recognised Auction Platform (RAP).
The status of Recognised Auction Platform will allow ICE Futures Europe to auction emission allowances as part of Phase III of the EU Emissions Trading System (ETS), which commences in 2013. As a Recognised Investment Exchange and now a Recognised Auction Platform, ICE Futures Europe last week submitted a tender to auction emission allowances to the UK Government’s Department of Energy & Climate Change and plans to put forward further tenders as part of the Commission Auction Regulation and the next stage of the EU ETS.
“ICE Futures Europe is pleased to receive the status of Recognised Auction Platform by the Financial Services Authority. As the leading market for trading in European Emissions Allowances, ICE Futures Europe is well positioned to provide European auction facilities, fulfilling requirements which are an important aspect of Phase III,” said David Peniket, President, ICE Futures Europe.
ICE Futures Europe offers derivative contracts on three types of carbon units: ICE EU Allowances (EUAs), ICE Certified Emission Reductions (CERs) and the world’s first ICE Emissions Reductions Units (ERUs). ICE Futures Europe recently announced that it will introduce European Union Aviation Allowances (EUAAs) on February 27, 2012, subject to regulatory approval.
Annual volumes for ICE EUA Futures and Options products were a record 6.15 million contracts in 2011 (6,150 million tonnes of CO2), an increase of 23% on the previous year. Average daily volumes were 25,437 in January 2012 and open interest stood at 878,747 contracts as at February 17, 2012 for ICE EUA Futures and Options products.
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world’s crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe and ICE Clear Europe. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding IntercontinentalExchange’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the SEC on February 8, 2012.