ICE Futures Europe Statement: UK Government Emissions Auction -- LONDON, April 23, 2012 /PRNewswire/ --
ICE Futures Europe Statement: UK Government Emissions Auction
LONDON, April 23, 2012 /PRNewswire/ -- IntercontinentalExchange (NYSE: [ ICE ]), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today issued the following statement following the announcement by the UK Department of Energy & Climate Change.
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"ICE Futures Europe is delighted that the UK Department of Energy & Climate Change has selected the Exchange as the preferred supplier to conduct aviation allowances and auctions for Phase III of the EU Emissions Trading Scheme (EU ETS) on behalf of the UK Government.
ICE Futures Europe is a Recognised Investment Exchange and a Recognised Auction Platform by the Financial Services Authority and through its ECX product suite, offers the world's most liquid on-exchange carbon market. The Exchange is therefore ideally placed to provide auction services to its members and customers for both compliance and price risk management purposes as part of the next phase of the EU ETS."
The UK's Phase III and aviation auctions are due to start in November, subject to approval by the European Union.
ICE Futures Europe offers derivative contracts on four types of carbon units: [ EU Allowances (EUAs) ], [ Certified Emission Reductions (CERs) ], [ Emissions Reductions Units (ERUs) ] and European Union Aviation Allowances (EUAAs).
Emissions trading volumes have experienced strong growth since the first contract was launched in 2005, with annual volumes for ICE Emissions futures and options products achieving a record 7.57 million contracts in 2011 (7,570 million tonnes of CO2), an increase of 23% on the previous year. Average daily volumes were 33,625 in March 2012, up 0.8% on last year and open interest stood at 1.227 million contracts as at April 20, 2012 for ICE Emissions products.
About IntercontinentalExchange
IntercontinentalExchange (NYSE: [ ICE ]) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. [ www.theice.com ]
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the SEC on February 8, 2012.
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SOURCE IntercontinentalExchange
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