The European Energy Exchange AG (EEX) and Eurex achieved the highest monthly volume to date in October 2008 in their jointly-operated market for CO2 emission rights. EUA futures traded 16,666,000 t CO2, 17 times higher compared with October 2007 (977,000 t CO2). October volumes grew by 90 percent compared with the previous record month August 2008.
6,134,000 EUAs of this was attributable to OTC clearing, offered by both partners, which made a considerable contribution to the increase in turnover. Market players’ more active participation in trading on the EEX is becoming more obvious also due to the constant increase in open interest: As of 31 October 2008, open interest in the CO2 futures market had risen to 33,775,000 EUA – more than three times the figure from the beginning of the year.
The cooperation between EEX and Eurex began in December 2007 with trade in EUA futures, which were already listed on the EEX, for the Kyoto phase 2008 – 2012. This joint platform enables market participants to trade not only EUA futures, but also CER futures – global emission credits in accordance with the Kyoto Protocol – and options on the EUA future.