C02-handel instituut wordt in A'dam gevestigd
december - 10.09.2004 11:20
C02-handel instituut wordt in A'dam gevestigd. C02-handel heeft
weinig te maken met de strijd tegen klimaatverandering, en alles
te maken met winst en de vrijemarkt! Voor meer C02-markt kritiek, zie
bijvoorbeeld  http://www.tni.org/ctw (Carbon Trade Watch)
Exchanges, brokers set to compete for market share
Carbon Market Europe, Sep 10
This week the Chicago Climate Exchange (CCX) and the International Petroleum
Exchange (IPE) signed the cooperation and licensing agreement to establish
a European
Climate Exchange (ECX) by the end of the year. The ECX will be based in
Amsterdam,
and aims to bring further liquidity to the EU emissions trading market.
The ECX will face
stiff competition, as Nordpool, the European Energy Exchange (EEX) and the
Austrian
Energy Exchange (EXAA) all have the same ambition. In addition come the nine
brokerages currently dealing in the market, providing traders with a range
of opportunities
of where and with whom to do their business.
Theoretically, such a situation can lead to a fragmented market,
scattering liquidity around
rather than deepening it at a couple of core market places. Stuart Jones,
emissions
trader with Accord, is not worried, however, and believes there is a place
for all of them:
“I don’t think the number of brokers or exchanges in the market will
affect liquidity at all,
provided there is sufficient liquidity to start with. Liquidity will be
driven by regulation,
scarcity, price and to a certain extent the weather. Undoubtedly, there is
room and need
for exchange(s) to operate in the EU ETS given the diversity of actors.
The exchanges
offer something geographically different to start with. I am sure that
actors would like to
see EUAs quoted on screens that they already trade on and with the market
being pan-European,
a few could be successful. I don’t see a single exchange dominate the
market.”
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