IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, has been recognised as the "Best Exchange - EU Emissions Trading Scheme" in the carbon emissions market for the third time by Environmental Finance and Carbon Finance Magazine in its 13th Carbon Finance Annual Market Survey.
"ICE is delighted to be recognised for its leading role in the emissions markets for the third year running. 2012 has been a strong year for our emissions product range in terms of overall volume growth, as well as new strategic developments," said David Peniket, President and COO, ICE Futures Europe.
"This year, we launched a new auction facility on the Exchange and subsequently hosted our first successful auctions on behalf of the European Investment Bank and the UK Government. Following additional security measures adopted by the European Commission, we also reopened the emissions daily futures market this month. These initiatives and the start of a new phase in the EU Emissions Trading System from 2013 will see more participants required to enter the market next year and provide new opportunities for the market to develop further," he added.
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.