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Greyhound Halts Trading as CO2 Prices Stagnate, CarbonDesk Says

Nov. 11 (Bloomberg) -- Greyhound Energy Markets Ltd. has stopped operations and is “on hold” while the European Union carbon market is “stuck in a band,” according to Greyhound shareholder CarbonDesk Group Plc.

CarbonDesk, a London-based emission-permit broker and investor, announced in March its purchase of a 33 percent interest in Greyhound to trade in energy and carbon markets.

“It didn’t really work,” Brett Stacey, chief executive officer of London-based CarbonDesk, said today in a phone interview. “We didn’t lose money. We weren’t making money. We decided to call it a day.”

Greyhound’s Jerry Vlam and Simon Gadd have stopped trading for the venture, Stacey said. Benchmark carbon prices have stayed in a range of 13.53 euros to 16.52 euros ($18.54-$22.64) a metric ton in the past seven months, according to data from ICE Futures Europe.

To contact the reporters on this story: Mathew Carr in London at m.carr@bloomberg.net; Lars Paulsson in London at lapulsson@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net.

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