Press Release
15 July 2009
CLIMATE EXCHANGE PLC
PRE CLOSE PERIOD TRADING UPDATE
ACCELERATING GROWTH IN EXISTING CONTRACTS
SUCCESSFUL LAUNCH OF NEW PRODUCTS
CONTINUING INTERNATIONAL EXPANSION
Climate Exchange plc, the leading international environmental exchange
operator, is pleased to provide an update on trading for the period 1
January 2009 to 30 June 2009 (H1 2009).
Highlights for the period under review (H1 2009 compared to H1 2008):
ECX - European Climate Exchange
CCX - Chicago Climate Exchange
CCFE - Chicago Climate Futures Exchange
IFEX - Insurance Futures Exchange
ECX traded 2,682,806 contracts, an increase of 153% over H1 2008,
nearly equaling full year 2008 volumes.
ECX average daily volumes for the first half were 20,797 contracts vs.
8,390 contracts in the first half of 2008 and monthly volume records
were set in February and March.
ECX open interest increased to 676,978 contracts, up 142% over H1 2008.
CCFE traded 617,618 contracts; an increase of 111% over H1 2008 and a
27.5% increase over full year 2008.
CCFE average daily volumes for the first half of 2009 were 4,901
contracts vs. 2,300 in the first half of 2008 and monthly volume
records were set in February, March, April and June.
CCFE open interest increased to 140,338 contracts up 74% over H1 2008.
CCX trading volumes declined 44% in the first half of 2009 compared to
the first half of 2008. The drop in trading of the voluntary carbon
contracts was offset by the 1,889% increase in trading in the carbon
complex contracts on CCFE, including contracts for the mandatory
Regional Greenhouse Gas Initiative (RGGI), which posted 5 consecutive
monthly volume records in the first half of 2009.
Volumes Traded
Contract H1 2009 H1 2008 Change
ECX EUA Futures Contract 2,022,671 776,361 160%
ECX EUA Options Contract 265,406 163,160 62%
ECX EUA Daily Futures Contract (Spot)* 7,614 n/a n/a
ECX CER Futures Contract** 344,168 405,238 227%
ECX CER Options Contract*** 50,470 20,750 143%
CCX CFI (Contracts) 259,034 462,228 -44%
CCFE SFI & NFI Futures & Options Contracts 292,888 272,107 8%
CCFE Carbon Complex, incl. CFI, RGGI, CCAR
and WI 318,474 16,013 1,889%
Other CCFE Products including IFEX 6,256 3,945 59%
* Launched 13 March 2009
** Launched 14 March 2008
*** Launched 16 May 2008
Open Interest
Contract H1 2009 H1 2008 Change
ECX EUA Futures Contract 309,270 206,372 49%
ECX EUA Options Contract 176,899 100,599 75%
ECX CER Futures Contract 115,705 50,965 127%
ECX CER Options Contract 75,104 20,600 461%
CCFE SFI & NFI Futures & Options Contracts 90,537 70,461 28%
CCFE Carbon Complex, incl. CFI, RGGI, CCAR
and WI 43,284 6,770 539%
Other CCFE Products including IFEX 6,517 3,363 94%
New products and initiatives included:
Launch of European T+1 contracts for EUAs and CERs on ECX.
Renewable Energy Credit futures for the New Jersey, Massachusetts,
Connecticut and voluntary markets and California Climate Action
Registry futures on CCFE.
Continued roll out of international operations including the granting
of licenses to trade emissions and water pollution rights at Tianjin
Climate Exchange (TCX) and the signing of a MOU to collaborate in
preparing for the establishment of emissions trading in Korea.
Richard Sandor, Executive Chairman of Climate Exchange plc, said:"Strong
interest in these markets continues to contribute positively to
growth. Our goal has been and will continue to be to operate under the
existing legal regime in any given country and in the absence of a
legislative framework to inform the debate through voluntary markets.
In the U.S., we have been operating since 2003 and our members have an
important role in helping to inform policymakers, serving as a
resource, and relaying their experiences of operating as a regulated
exchange as the House and Senate continue to deliberate cap and trade
legislation. Our continued success at CCFE bodes well for Climate
Exchange PLC prevailing against other exchanges in any forthcoming
national carbon 'cap and trade' market in the United States."
Neil Eckert, CEO of Climate Exchange plc, said: "Our business continues
to grow strongly in spite of difficult economic conditions and
political uncertainty. The second half of 2009 could be a defining
period for our business as we move towards the vital post Kyoto talks
for world leaders in Copenhagen in December. The key to our business is
the growth of trading revenues in both Europe and the U.S. and all
signs in these regards remain exceptionally positive."
For reference, detailed traded volumes are contained in our
monthly London Stock Exchange announcements.
For further information, please contact:
Richard Sandor, Executive Chairman, +1 312 554 3370
Climate Exchange plc
Neil Eckert, Chief Executive, +44 207 382 7801
Climate Exchange plc
Ivonne Cantu, Cenkos Securities Plc +44 207 397 8900
Peter Rigby, Haggie Financial +44 207 471 8989 /
07803 851 426
Alexandra Parry, Haggie Financial +44 207 471 8989 /
07813 808 738
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 whose contracts
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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