LCH.Clearnet Ltd (LCH.Clearnet) OTC emissions clearing service has had a record third quarter, with volumes increasing 148% on the same period last year. September was a particularly strong month with open interest increasing 281% year on year. The service clears contracts on EU Allowances and Certified Emissions Reductions (CER).
The growth is due to the appetite for cost effective and operationally efficient OTC clearing services for emissions. In addition, five new clearing members joined the service in 2010, facilitating access and giving market participants the choice of 14 clearing members.
Isabella Kurek-Smith, director, energy and freight said; “Customers want the flexibility offered by OTC trading, combined with the operational and cost benefits of a highly effective clearing service. We are delighted by the growth in the service and look forward to working with the OTC emissions trading and broking community to build and enhance our emissions offering.”