Trading volume on the European Climate Exchange (ECX) reached a new daily record of 39,624 contracts yesterday, representing almost 40 million tonnes of underlying emissions allowances. The previous record day of 39,169 contracts was set on 23rd October 2008.
Patrick Birley, Chief Executive of ECX commented on the new record “In the early part of 2009, volumes in emissions products have continued their rapid growth trend. The community of emissions traders is constantly expanding and yesterday’s price up-tick saw a combination of strong volumes in both the screen-based and brokered segment of the market.”
The graph below shows the monthly ECX volumes since their launch in April 2005. In the month to 18 February 2009, over 272,000 contracts have been traded.