IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced that ICE Futures Europe will introduce futures contracts on European Union Aviation Allowances (EUAAs) on February 27, 2012, subject to regulatory approval.
One EUAA represents an entitlement for airline companies, which are included within the EU Emissions Trading Scheme from 2012, to emit one tonne of carbon dioxide equivalent gas. The first contract month available for trading EUAAs will be December 2012, with subsequent December and quarterly contracts listed out to 2020. ICE Futures Europe will also list the two front contract months, so that there are always three prompt contract months to trade including the quarterly contract.
“ICE is pleased to introduce futures on EU Aviation Allowances, an important new element of the European Emissions Trading Scheme. As the leading market for trading in European Emissions Allowances, ICE Futures Europe is committed to meeting our customers requirements for the next phase,” said David Peniket, president, ICE Futures Europe.
ICE Futures Europe is the leading market for trading carbon dioxide (CO2) emissions and offers derivative contracts on three types of carbon units: ICE EU Allowances (EUAs), ICE Certified Emission Reductions (CERs) and the world’s first ICE Emissions Reductions Units (ERUs).
Annual volumes for ICE EUA Futures and Options products were a record 6.15 million contracts in 2011, an increase of 23% on the previous year and which equates to 6,150 million tonnes of CO2. Average daily volumes were 25,437 in January 2012 and open interest stood at 838,736 as at February 6, 2012 for ICE EUA Futures and Options products.
