Orbeo makes first Phase III carbon trade on ECX
Carbon trading company Orbeo has completed the first futures trade for Phase III of the EU emissions trading scheme (EU ETS), on European Climate Exchange’s new 2013 EUA contract.
The December 2013 ECX contract, along with a contract for December 2014 delivery, was launched on 8 April.
Orbeo made the first 2013 trade with an undisclosed counterparty for 10 lots (equivalent to 10,000 EUAs) at €27.70 per tonne.
Orbeo managing director Jérôme Malka comments that the transparency brought by the new contracts is “crucial in pricing the longer-dated forward curve”.
Sara Stahl, business development manager at ECX, says that, while a successor to the Kyoto Protocol has yet to be
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