In the framework of the NER 300 Initiative of the European Investment Bank (EIB,) European Energy Exchange (EEX) will launch auctions of EU allowances (EUA), which will be held on four days per week on its Derivatives Market in June and July.
For the first time, EU allowances for the third trading period will be auctioned on EEX.
The EIB auctions will be carried out by EEX during the period from 7 June to 31 July 2012. The auctions are scheduled to take place on Monday, Tuesday, Thursday and Friday of the respective weeks with a volume of 625,000 EUAs to be auctioned off in the Mid-December 2013 contract. On the days specified, the trading participants will be able to enter bids for the auction from 01:00pm to 03:00pm.
“The EIB already uses EEX for clearing of over-the-counter transactions and for sales through secondary trading in the framework of the NER 300 Initiative. We are pleased to offer our know-how also for the EUA auctions. Auctions are a transparent and efficient way of marketing emission allowances and they are an important contribution to the success of the NER 300 Initiative”, says Peter Reitz, Chief Executive Officer of EEX.
EEX and Eurex offer their participants a platform for trading in CO2 emission allowances. Within the framework of this cooperation, which was launched in December 2007, the Eurex participants can trade the CO2 derivatives products listed on EEX and participate in the EUA auctions through their existing infrastructure and a simplified admission process.