N@N

Climate Exchange PLC: Climate Exchange - Pre close period trading update

^{Published on 2009-07-14 23:38:19, Last Modified on 2009-07-14 23:38:27 - Market Wire}
 

ISLE OF MAN, UK--(Marketwire - July 15, 2009) -

 Press Release 15 July 2009 CLIMATE EXCHANGE PLC PRE CLOSE PERIOD TRADING UPDATE ACCELERATING GROWTH IN EXISTING CONTRACTS SUCCESSFUL LAUNCH OF NEW PRODUCTS CONTINUING INTERNATIONAL EXPANSION Climate Exchange plc, the leading international environmental exchange operator, is pleased to provide an update on trading for the period 1 January 2009 to 30 June 2009 (H1 2009). Highlights for the period under review (H1 2009 compared to H1 2008): ECX - European Climate Exchange CCX - Chicago Climate Exchange CCFE - Chicago Climate Futures Exchange IFEX - Insurance Futures Exchange ECX traded 2,682,806 contracts, an increase of 153% over H1 2008, nearly equaling full year 2008 volumes. ECX average daily volumes for the first half were 20,797 contracts vs. 8,390 contracts in the first half of 2008 and monthly volume records were set in February and March. ECX open interest increased to 676,978 contracts, up 142% over H1 2008. CCFE traded 617,618 contracts; an increase of 111% over H1 2008 and a 27.5% increase over full year 2008. CCFE average daily volumes for the first half of 2009 were 4,901 contracts vs. 2,300 in the first half of 2008 and monthly volume records were set in February, March, April and June. CCFE open interest increased to 140,338 contracts up 74% over H1 2008. CCX trading volumes declined 44% in the first half of 2009 compared to the first half of 2008. The drop in trading of the voluntary carbon contracts was offset by the 1,889% increase in trading in the carbon complex contracts on CCFE, including contracts for the mandatory Regional Greenhouse Gas Initiative (RGGI), which posted 5 consecutive monthly volume records in the first half of 2009. Volumes Traded Contract H1 2009 H1 2008 Change ECX EUA Futures Contract 2,022,671 776,361 160% ECX EUA Options Contract 265,406 163,160 62% ECX EUA Daily Futures Contract (Spot)* 7,614 n/a n/a ECX CER Futures Contract** 344,168 405,238 227% ECX CER Options Contract*** 50,470 20,750 143% CCX CFI (Contracts) 259,034 462,228 -44% CCFE SFI & NFI Futures & Options Contracts 292,888 272,107 8% CCFE Carbon Complex, incl. CFI, RGGI, CCAR and WI 318,474 16,013 1,889% Other CCFE Products including IFEX 6,256 3,945 59% * Launched 13 March 2009 ** Launched 14 March 2008 *** Launched 16 May 2008 Open Interest Contract H1 2009 H1 2008 Change ECX EUA Futures Contract 309,270 206,372 49% ECX EUA Options Contract 176,899 100,599 75% ECX CER Futures Contract 115,705 50,965 127% ECX CER Options Contract 75,104 20,600 461% CCFE SFI & NFI Futures & Options Contracts 90,537 70,461 28% CCFE Carbon Complex, incl. CFI, RGGI, CCAR and WI 43,284 6,770 539% Other CCFE Products including IFEX 6,517 3,363 94% New products and initiatives included: Launch of European T+1 contracts for EUAs and CERs on ECX. Renewable Energy Credit futures for the New Jersey, Massachusetts, Connecticut and voluntary markets and California Climate Action Registry futures on CCFE. Continued roll out of international operations including the granting of licenses to trade emissions and water pollution rights at Tianjin Climate Exchange (TCX) and the signing of a MOU to collaborate in preparing for the establishment of emissions trading in Korea. Richard Sandor, Executive Chairman of Climate Exchange plc, said:"Strong interest in these markets continues to contribute positively to growth. Our goal has been and will continue to be to operate under the existing legal regime in any given country and in the absence of a legislative framework to inform the debate through voluntary markets. In the U.S., we have been operating since 2003 and our members have an important role in helping to inform policymakers, serving as a resource, and relaying their experiences of operating as a regulated exchange as the House and Senate continue to deliberate cap and trade legislation. Our continued success at CCFE bodes well for Climate Exchange PLC prevailing against other exchanges in any forthcoming national carbon 'cap and trade' market in the United States." Neil Eckert, CEO of Climate Exchange plc, said: "Our business continues to grow strongly in spite of difficult economic conditions and political uncertainty. The second half of 2009 could be a defining period for our business as we move towards the vital post Kyoto talks for world leaders in Copenhagen in December. The key to our business is the growth of trading revenues in both Europe and the U.S. and all signs in these regards remain exceptionally positive." For reference, detailed traded volumes are contained in our monthly London Stock Exchange announcements. For further information, please contact: Richard Sandor, Executive Chairman, +1 312 554 3370 Climate Exchange plc Neil Eckert, Chief Executive, +44 207 382 7801 Climate Exchange plc Ivonne Cantu, Cenkos Securities Plc +44 207 397 8900 Peter Rigby, Haggie Financial +44 207 471 8989 / 07803 851 426 Alexandra Parry, Haggie Financial +44 207 471 8989 / 07813 808 738 About Climate Exchange plc Climate Exchange plc is a holding company whose subsidiaries are principally engaged in owning, operating and developing exchanges to facilitate trading in environmental financial instruments including emissions reduction credits in both voluntary and mandatory markets. Its three main businesses are the European Climate Exchange (ECX) which operates the leading derivatives exchange focused on compliance certificates for the mandatory European Emissions Trading Scheme, Chicago Climate Exchange (CCX) which operates a voluntary but contractually binding cap and trade system for greenhouse gas emissions in the U.S., and the Chicago Climate Futures Exchange (CCFE) the leading U.S. regulated environmental products exchange whose contracts include mandatory U.S. emissions such as SO2 , NOx and RGGI CO2. [ www.climateexchange.com ] About European Climate Exchange The European Climate Exchange (ECX) manages product development and marketing of futures, options and spot contracts based on CO2 EU allowances (EUAs) traded under the EU Emissions Trading Scheme and Certified Emission Reductions (CERs) issued under the Kyoto Protocol. ECX contracts are listed and traded on the ICE Futures electronic platform, offering a central marketplace for emissions trading alongside other energy commodities with standardised contracts and clearing guarantees. ECX/ ICE Futures is the most liquid Exchange for carbon derivatives trading. More than 100 businesses have signed up for direct membership to trade ECX products. In addition, several thousand ICE clients can access the market via banks and brokers. [ www.ecx.eu ] About Chicago Climate Exchange, Inc. and Chicago Climate Futures Exchange Chicago Climate Exchange (CCX) is a financial services business whose objectives are to apply financial innovation and incentives to advance social, environmental and economic goals. CCX is the world's first and North America's only contractually binding rules-based greenhouse gas emissions allowance trading system, as well as the world's only global system for emissions trading based on all six greenhouse gases. CCX members are leaders in greenhouse gas management and represent all sectors of the global economy, as well as public sector innovators. Greenhouse gas emission reductions achieved through CCX are the only reductions in North America being achieved through a legally binding compliance regime. Independent third party verification is provided by FINRA. For a full list of CCX members, daily prices and other Exchange information please see the CCX website. The Chicago Climate Futures Exchange (CCFE), a wholly owned subsidiary of the Chicago Climate Exchange, is a CFTC designated contract market which offers standardized and cleared futures contracts on emission allowances and other environmental products. Clearing services are provided by The Clearing Corporation. Market surveillance services are provided by the National Futures Association, the industry wide, self-regulatory organization for the U.S. futures industry. [ www.chicagoclimateexchange.com ][ www.ccfe.com ] This information is provided by RNS The company news service from the London Stock Exchange END