ICE Futures Europe Announces First EUAA Trade
LONDON, Feb. 27, 2012 /PRNewswire/ — IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced the first trade in its new futures contract on European Union Aviation Allowances (EUAAs), which was introduced for trading today.
The trade was for one lot; representing 1,000 EUAAs for December 2012 delivery. One EUAA denotes an entitlement for airline companies, which are included within the EU Emissions Trading Scheme from 2012, to emit one tonne of carbon dioxide equivalent gas. In addition to being the first EUAA Futures trade on ICE Futures Europe, the transaction today is the first trade of its kind to trade on-exchange.
The two counterparties to the trade, who have confirmed their participation at the request of ICE Futures Europe, were Belektron and Vertis Environmental Finance. The trade was cleared by Bache Commodities.
“The inclusion of airlines is an important element of Phase III of the EU Emissions Trading Scheme and the ICE EUAA Futures contract enables airlines to manage their emissions goals for the next phase. We are delighted to contribute to the liquidity of this contract from the start of trading today,” said Bostjan Bandelj, Director at Belektron.
ICE Futures Europe offers derivative contracts on four types of carbon units: ICE EU Allowances (EUAs), ICE Certified Emission Reductions (CERs), the world’s first ICE Emissions Reductions Units (ERUs) and ICE EU Aviation Allowances.
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 for all ICE Emissions contracts were 32,353 in January 2012, an increase of 46.7% on January 2011. Open interest stood at 1,176,789 contracts as at February 24, 2012 for ICE Emissions 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.