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CME's Green Exchange Handles Record Volume of Emissions Permits
2010-08-24 12:35:56.106 GMT
By Catherine Airlie
Aug. 24 (Bloomberg) -- Green Exchange LLC, a new carbon
market owned by CME Group Inc.'s New York Mercantile Exchange,
handled a record amount of emissions permits after carbon offset
prices surged on supply concern.
Green Exchange handled 5.29 million metric tons of
emissions permits yesterday, the exchange said today in an e-
mailed statement. The bulk of this was made up of 4 million tons
of Certified Emission Reduction option contracts, the London-
based exchange said in a separate e-mail.
The exchange opened its London office in May and hired Les
Male, previously commercial director at APX-Endex, and Henrik
Hasselknippe, formerly head of global analysis at Point Carbon,
to develop its carbon trading business.
"We are pleased to see our volumes begin to rise," Tom
Lewis, Green Exchange's chief executive officer, said in the
statement. "We look forward to the upcoming months as we
continue to work with the trading community to assist them in
gaining access to our markets."
Green Exchange yesterday handled 1.28 million tons of CERs
and 10,000 tons of EU carbon allowances for December delivery,
exchange data show. This compares to 3.2 million tons of 2010
CERs and 8.73 million 2010 EU allowances that traded on Ice
Futures' European Climate Exchange.
UN CERs for December have risen 11 percent so far this
month after regulators said they are reviewing projects that
reduce hydrofluorocarbons, raising concern that the supply of
credits will plunge.
For Related News and Information:
Top Environment Stories:GREEN <GO>
Emissions Pricing: EMIS <GO>
--Editors: Rob Verdonck, Torrey Clark
To contact the reporter on this story:
Catherine Airlie at +44-20-7073-3308 or
cairlie@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
