IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, today announced the calendar for emissions auctions taking place on ICE Futures Europe in 2013. The auctions will be hosted by the Exchange on behalf of the UK's Government Department of Energy and Climate Change (DECC).
The 2013 UK Phase III auctions of European Union Allowances (EUAs) are expected take place every other Wednesday from January 16, 2013 to December 4, 2013, between 08.00am and 10.00am UK Time (9.00am and 11.00am Central European Time).
The total volume of EU Allowances to be auctioned by DECC on the ICE auction platform in 2013 is 95,098,000. The ICE Futures EUA auction contract will be a two day spot contract.
The auction calendar and total auction volume are subject to final approval by the European Commission.
Auctions for EU Aviation Allowances (EUAAs) were postponed following an announcement by the European Commission in November this year. For more information, please see Circular 12/162.
ICE Futures Europe offers futures and options contracts on four types of carbon units: EU Allowances (EUAs), Certified Emission Reductions (CERs), Emissions Reductions Units (ERUs) and European Union Aviation Allowances (EUAAs).
Emissions volumes have experienced strong growth since the first contract was launched in 2005, with annual ICE emissions futures and options volumes achieving a record 7.57 million contracts in 2011 (7,570 million tonnes of CO2). Year to date volumes in 2012 for ICE emissions futures and options products are 8.88 million contracts, an increase of 23% on the same period last year. As of December 11, 2012, open interest was 2.03 million contracts.