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LCH.Clearnet Has First Trade of Cleared Spot EU Carbon Permits
2010-10-12 16:33:34.484 GMT
By Mathew Carr
Oct. 12 (Bloomberg) -- LCH.Clearnet Group Ltd. handled its
first cleared spot contract for European Union carbon
allowances, it said today in an e-mailed statement.
LCH.Clearnet, based in London, handled 50,000 metric tons
at 15.58 euros ($21.58) a ton, according to the statement.
"Spot trading may open the door for us to offer structured
deals, for instance spread trades between the spot and the first
December expiry," said Phil Brown, managing director of Climate
Markets Ltd., which promotes LCH.Clearnet's carbon products. The
clearing cuts the delivery and counterparty risk because the
allowances and payment are transferred simultaneously the
following day, he said by phone.
For Related News and Information:
Emission market news NI ENVMARKET <GO>
Today's top energy stories ETOP <GO>
European power-markets home page EPWR <GO>
--Editors: Rob Verdonck, Randall Hackley
To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
