London, 14 February 2005 â Trayport, a leading supplier of electronic trading systems, today announced its move into the EU emissions market where its Global Vision platform is now supporting the electronic trading of UK and EU emission credits, certified emission reductions (CERâs) and renewable obligation certificates (ROCâs). Inter-dealer brokers such as Evolution Markets, Spectron and Tradition Financial Services (TFS) are all early implementers.
"Even before the Emissions Trading Scheme came into effect, we saw substantial market interest to host trade in these products electronically because of the benefits of increased liquidity, transparency, and control," said Tom Zikas, Manager of Sales at Trayport. "With such strong growth potential, the emissions market was always going to be the industryâs next âhot thingâ and we wanted to enable our clients to move in quickly."
Evolution Markets, Spectron and Tradition Financial Services (TFS) have been among the first inter-dealer brokers to launch electronic emissions trading platforms in a bid to secure first-mover advantage following the launch of the Emissions Trading Scheme (ETS) and the commencement of the first compliance period on the 1st January 2005. Trayport has also received interest from other inter-dealer brokers and European exchanges to launch their electronic emissions trading platforms, further bolstering Trayportâs position as a leading provider in this marketplace.
"We executed the first brokered EU Emission Trading Scheme transaction back in May 2003 and since that date have seen the market grow exponentially. The incredibly large number of companies involved in the scheme makes it very difficult to broker this market efficiently without an electronic platform. The introduction of a Global Vision product by Evolution Markets in January 2005 has been well received by our clients and has helped us to streamline our business and to offer a better all round service."
James Emanuel, Director at Evolution Markets
"The emissions market was central to our success in 2004 â a fact that was recognised in the stream of awards we won, including the Energy Business Gold Award for Excellence in green markets. We launched the emissions platform back in October 2003. As existing Trayport clients, we were able to easily configure emissions instruments within the existing Global Vision platform, allowing us to enter the new market with a single solution."
Richard Frape, Director of Market Services at Spectron
"We were extremely pleased to broker the first-recorded emissions deal in the Emissions Trading Scheme of 2005. The Trayport platform went live in April 2004 and Global Vision's core flexibility ensured us a quick deployment with a resulting increase in liquidity. A well functioning hybrid broking model undoubtedly strengthens transparency, disclosure and price discovery, critical issues to adding value within the environmental markets.
John Molloy, Head of Emissions Trading at Tradition Financial Services