The European Energy Exchange (EEX) will migrate trading on the Spot Market for CO2Emission Allowances (EUA, CER, EUAA) to the T7 trading system. As a result, all Spot and Derivatives Market products will be tradable on a joint system.
Furthermore, in addition to the year future, EEX will offer monthly maturities (for the current month and the respective next two months) and quarter maturities (current quarter and the respective next eleven quarters) for the EUA future to supplement the existing products. In addition, EUAA Futures and CER Futures can still be traded on the Derivatives Market.
“The consolidation of the trading systems facilitates access to our emission products for customers. Furthermore, it enables us to introduce further spread products”, explains Steffen Köhler, Chief Operating Officer of EEX. “These measures are intended to further strengthen our presence on the secondary market for emission allowances.”
On the Emissions Market, from 2 April, EEX will offer further spread products, i.e. trading in price differences between different maturities and products. This will comprise additional time spreads including the new month and quarter maturities (e.g. purchase in Jan-16/sale in Jan-15) and, more specifically, spreads between spot and derivatives products (e.g. sale of EUA Spot contract/purchase of EUA Dec-15) as well as spreads between different products (Inter-Product Spreads, e.g. purchase EUA/sale CER). This gives the traders more flexibility and emission rights acquired in an auction can, for example be converted into a futures position and traded further.
The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and commodity products. Contracts on power, coal and CO2 emission allowances as well as freight and agricultural products are traded or registered for clearing on EEX. EPEX SPOT, Powernext, Cleartrade Exchange (CLTX) and Gaspoint Nordic are also members of EEX Group. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing (ECC).