At close of business on 15 December 2008, the ICE ECX EUA and CER Futures December 2008 contract month expired. A combined total of 117,742 lots (representing over 117 million tonnes of CO2) were physically delivered – 99,798 lots of EUAs and 17,994 lots of CERs.
The December 2008 EUA expiry accounts for the largest ever physical delivery on ICE Futures Europe contract, surpassing the December 2007 EUA expiry when 51,411 lots of EUAs expired. Following the introduction of the ICE ECX CER Futures on 14 March 2008, it was also the first ever delivery of CERs.
The final settlement price for the ICE ECX EUA and CER December 2008 contracts were €15.30 per tonne and €13.52 per tonne respectively. Open interest of all ICE ECX EUA and CER futures and options contracts now stands at 410,556 lots. The Dec’09 will now serve as the market’s benchmark contract. As of 16 December 2008, the ECX indices (ICE ECX CFI Morning Marker and ICE ECX CFI Emission Index) have been published for the Mar’09, Dec’09, Dec’10, Dec’11 and Dec’12 contract months.
ICE Clear Europe, which provides clearing services for all ICE ECX contracts, managed the delivery process. 100% of the EUAs and CERs were successfully transferred from ICE Clear Europe’s Registry Account to the various Clearing Members’ Registry Accounts. ICE Clear Europe and ECX would like to thank Members for their efforts in making this possible.