ICE Futures Europe Announces Launch of New Emissions Contracts for UK Auctions
LONDON, Oct. 29, 2012
LONDON, Oct. 29, 2012 /PRNewswire/ --IntercontinentalExchange (NYSE: ICE), a
leading operator of global markets and clearing houses, today announced that
ICE Futures Europe will introduce two new emissions allowance contracts in its
capacity as the designated platform for hosting auctions under the EU
Emissions Trading System on behalf of the UK Government's Department of Energy
and Climate Change (DECC).
ICE Futures Europe will introduce the EU Allowance (EUA) UK Auction Contract
and the EU Aviation Allowance (EUAA) UK Auction Contract on November 21, 2012.
The new UK Auction emissions products will be spot contracts and represent a
lot size of 500 Phase III EUAs and EUAAs respectively.
The first UK Phase III EUA auctions are scheduled for Wednesday November 21
and Wednesday December 5, and EUAA auctions for Monday November 26 and Monday
December 10, 2012, in each case between 8.00am and 10.00am UK time.
"Following successful auctions on behalf of the European Investment Bank,
ICEis pleasedtohost the emissions auctions on behalf of the UK Government.
The auctions will take place on the same platform on which ICE's carbon
markets operate and will expand the range of services we offer as Phase III of
the EU Emissions Trading Scheme comes into effect," said David
Peniket,President & COO, ICE Futures Europe.
It is expected that 6.5 million EUAs will be auctioned on November 21 and
5.758 million EUAs on December 5, 2012. The EUAA auctions on November 26 and
December 10, 2012 are each expected to consist of approximately 3.5 million
aviation allowances. The auction calendar and auction volumes are subject to
final approval by the European Commission.
Emissions futures volumes have experienced strong growth since the first
contract was launched in 2005, with annual ICE emissions futures and options
volumes achieving a record 7.57 million contracts in 2011 (7,570 million
tonnes of CO2). Year to date volumes in 2012 for ICE emissions futures and
options products are 6.99 million contracts, an increase of 15% on the same
period last year. As at October 26, 2012, open interest was 1.91 million
ICE has developed an auction platform which is fully integrated with WebICE,
ICE's front-end trading platform. WebICE is widely recognised for its
state-of-the-art functionality, which delivers flexibility, connectivity and
reliability to participants across the globe. The ICE platform achieved
greater than 99.998% availability and sub-millisecond transaction times during
ICE Futures Europe offers futures and options contracts on four types of
carbon units: EU Allowances (EUAs),Certified Emission Reductions (CERs),
Emissions Reductions Units (ERUs) and European Union Aviation Allowances
IntercontinentalExchange (NYSE: ICE) operates leading regulated exchanges and
central clearing houses serving the hedging and risk management needs of
global market participants with agricultural, credit, currency, emissions,
energy and equity index products. ICE's Brent and Gasoil contracts are the
world's benchmarks for crude and refined oil. ICE serves customers in more
than 70 countries. www.theice.com
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1995 - Statements in this press releaseregarding 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, and ICE's Quarterly Report on Form
10-Q for the quarter ended June 30, 2012, as filed with the SEC on August 1,
Contact: Media Contact: Claire Miller, Corporate Communications,
IntercontinentalExchange. +44 20 7065 7745, email@example.com; or
Investor Contact: Kelly Loeffler, VP Investor Relations & Corp.
Communications, IntercontinentalExchange, +1-770-857-4726,
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