Press release
7 April 2010
CLIMATE EXCHANGE PLC
Monthly Trading Update for the European Climate Exchange,
the Chicago Climate Exchange and the Chicago Climate Futures Exchange
Climate Exchange plc summarises the trading volumes for the month of
March 2010 for the European Climate Exchange (ECX), the Chicago Climate
Exchange (CCX) and the Chicago Climate Futures Exchange (CCFE).
Highlights
* Open Interest across all CCFE products ended the month at
123,090, an 32% increase versus the same time last year
* Open Interest in the CCFE REC product line ended the month at
a record high of 4,260 contracts
* March was a record volume month in both the CCFE REC-MA and
REC-CT contracts, with 200 and 380 contracts traded respectively.
* Volume in CCFE SFI Options was 3,540 contracts, an increase of
18% over March of last year.
* 2010 ECX trading volumes continued to climb with a total of
476,433,000 tonnes changing hands in March, up from 458,942,000 tonnes
in February
* Volumes in ECX Daily Futures rose again to establish another
monthly volume record of 24,372 contracts. This represents a 32.4%
share of the total exchange-traded spot market with over 1 million
tonnes traded on average per day.
* March was also a record month for ECX Options with 79,350
contracts cleared on the exchange - 63,500 of which were EUA Dec10
options. In addition each of the 2010 Serial Options (quarterly
contracts) saw an increase in activity during the month.
* ECX Total Open Interest grew by more than 10% in March and
currently stands at over 775 Mt; year-on-year open interest has
increased by 50%.
Total ECX Products (Contracts*)
2010 2009 Change
March 476,433 539,002 -11.61%
YTD 1,351,798 1,274,114 6.09%
Open Interest 775,492 518,153 49.66%
*1 contract equal to 1,000 EUAs/CERs
ECX EUA Futures Contract
2010 2009 Change
March 295,072 440,254 -32.97%
YTD 953,029 955,938 -0.30%
Open Interest 382,415 217,807 75.58%
ECX EUA Options Contract
2010 2009 Change
March 68,750 44,642 54.00%
YTD 156,396 119,300 31.09%
Open Interest 177,294 124,615 42.27%
ECX EUA Daily Futures Contract ('Spot') (launched 13 March 2009)
2010 2009 Change
March 22,853 776 2,844.97%
YTD 47,663 776 6,042.14%
ECX CER Futures Contract (launched 14 March 2008)
2010 2009 Change
March 77,639 50,315 54.30%
YTD 172,317 173,821 -0.86%
Open Interest 148,103 110,589 33.92%
ECX CER Options Contract (launched 16 May 2008)
2010 2009 Change
March 10,600 2,815 276.55%
YTD 18,850 24,079 -21.72%
Open Interest 69,987 65,142 7.44%
ECX CER Daily Futures Contract (Spot) (launched 13 March 2009)
2010 2009 Change
March 1,519 189 703.70%
YTD 3,543 189 1,774.60%
CCX CFI (Contracts)
2010 2009 Change
March 1,627 64,193 -97%
YTD 5,072 175,100 -97%
Total CCFE Products (Contracts)
2010 2009 Change
March 53,740 91,524 -41%
YTD 160,951 200,002 -20%
Open Interest 123,090 92,929 32%
CCFE SFI and NFI Futures & Options Contracts
2010 2009 Change
March 45,137 49,914 -10%
YTD 126,061 124,151 2%
Open Interest 83,600 46,939 78%
CCFE Carbon Complex including CFI, RGGI, CCAR and CFI-US
2010 2009 Change
March 7,781 40,484 -81%
YTD 31,583 74,335 -58%
Open Interest 35,098 36,734 -4%
Other CCFE Products including IFEX and RECs
2010 2009 Change
March 822 1,126 -27%
YTD 3,307 1,516 118%
Open Interest 4,392 9,256 -53%
For breakdown of daily trades, please refer to websites as follows:
ECX www.ecx.eu
CCX www.chicagoclimateexchange.com
CCFE www.ccfe.com
Neil Eckert, CEO of Climate Exchange plc, said: "March was a month
that exhibited low volatility across many financial asset classes. In
spite of this we recorded further progress in ECX. Our key metric is
open interest which is the lead indicator of underlying growth
irrespective of short term volumes. This continued to grow. The
political situation in the US is progressing. Health Care legislation
was passed by the Senate and the Bi-partisan initiative lead by
Senators Graham, Lieberman and Kerry is still being worked on. Press
reports state it will contain a 2.5bn ton Cap and Trade provision for
the Power Sector, which is 25% larger than EU ETS, the foundation for
our success at ECX. Whilst we cannot speculate on the outcome of such a
Bill, we are excited by its potential impact, if successful, it could
be a value changing event for CLE"
Contact
Richard Sandor, Chairman Climate Exchange plc 001 312 554 3370
and Chairman & CEO Chicago Climate Exchange
Neil Eckert, CEO Climate Exchange plc 0207 382 7801
Patrick Birley, CEO European Climate Exchange 0207 382 7818
Jonny Franklin-Adams and Simon Law, Fox-Pitt, 0207 065 2000
Kelton Limited
Peter Rigby/Alex Parry, Haggie Financial 0207 417 8989
About Climate Exchange plc
Climate Exchange plc is a holding company whose subsidiaries are
principally engaged in owning, operating and developing exchanges to
facilitate trading in environmental financial instruments including
emissions reduction credits in both voluntary and mandatory markets.
Its three main businesses are the European Climate Exchange (ECX) which
operates the leading derivatives exchange focused on compliance
certificates for the mandatory European Emissions Trading Scheme,
Chicago Climate Exchange (CCX) which operates a voluntary but
contractually binding cap and trade system for greenhouse gas emissions
in the U.S., and the Chicago Climate Futures Exchange (CCFE) the
leading U.S. regulated environmental products exchange whosecontracts
include mandatory U.S. emissions such as SO2 , NOx and RGGI CO2.
www.climateexchange.com
About European Climate Exchange
The European Climate Exchange (ECX) manages product development and
marketing of futures, options and spot contracts based on CO2 EU
allowances (EUAs) traded under the EU Emissions Trading Scheme and
Certified Emission Reductions (CERs) issued under the Kyoto Protocol.
ECX contracts are listed and traded on the ICE Futures electronic
platform, offering a central marketplace for emissions trading
alongside other energy commodities with standardised contracts and
clearing guarantees. ECX/ ICE Futures is the most liquid Exchange for
carbon derivatives trading. More than 100 businesses have signed up for
direct membership to trade ECX products. In addition, several thousand
ICE clients can access the market via banks and brokers.
www.ecx.eu
About Chicago Climate Exchange, Inc. and Chicago Climate Futures
Exchange
Chicago Climate Exchange (CCX) is a financial services business whose
objectives are to apply financial innovation and incentives to advance
social, environmental and economic goals. CCX is the world's first and
North America's only contractually binding rules-based greenhouse gas
emissions allowance trading system, as well as the world's only global
system for emissions trading based on all six greenhouse gases. CCX
members are leaders in greenhouse gas management and represent all
sectors of the global economy, as well as public sector innovators.
Greenhouse gas emission reductions achieved through CCX are the only
reductions in North America being achieved through a legally binding
compliance regime. Independent third party verification is provided by
FINRA. For a full list of CCX members, daily prices and other Exchange
information please see the CCX website.
The Chicago Climate Futures Exchange (CCFE), a wholly owned subsidiary
of the Chicago Climate Exchange, is a CFTC designated contract market
which offers standardized and cleared futures contracts on emission
allowances and other environmental products. Clearing services are
provided by The Clearing Corporation. Market surveillance services are
provided by the National Futures Association, the industry wide,
self-regulatory organization for the U.S. futures industry.
www.chicagoclimateexchange.com
www.ccfe.com
This information is provided by RNS
The company news service from the London Stock Exchange
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