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ICE Publishes 2022 Auction Calendar for UK Emissions Trading Scheme
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Rhea-AI Sentiment
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Rhea-AI Summary
Intercontinental Exchange (NYSE:ICE) has unveiled the 2022 auction calendar for the UK Emissions Trading Scheme (ETS). Since its launch in May 2021, the UK ETS has become the third largest carbon cap and trade market globally, with over 156,000 lots traded, equating to 156 million tons of carbon. Current open interest stands at 42,131 contracts. The UK ETS aims to support the climate goals of the UK, facilitating liquidity and participation in environmental markets.
Positive
ICE's UK ETS has become the third largest carbon cap and trade market globally in just five months.
Over 156,000 lots of UKA futures traded, totaling 156 million tons of carbon, indicating significant market activity.
Open interest has reached 42,131 contracts, showcasing growing investor confidence.
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None.
LONDON--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced the publication of the 2022 auction calendar for the UK Emissions Trading Scheme (“ETS”).
ICE hosted the first UK ETS auction in May 2021, alongside launching UK Allowance (UKA) Futures contracts and UKA Daily Futures. Since then, more than 156,000 lots of UKA futures have traded, equivalent to 156 million tons of carbon, open interest has grown to 42,131 contracts, and roughly 67 million allowances have been bought through fortnightly auctions.
ICE hosts the four largest and most liquid carbon cap and trade futures markets in the world. Since launch, the UK ETS has grown into the third largest carbon cap and trade futures market based on total traded carbon allowances. ICE’s European emission allowance market is the largest in terms of volume, followed by ICE’s California carbon allowances in second place, and ICE Regional Greenhouse Gas Initiative (RGGI) as the fourth largest.
“By putting a price on UK emissions, the UK ETS is supporting the climate ambitions of the UK”, said Gordon Bennett, Managing Director of Utility Markets at ICE. “Having grown into the world’s third largest carbon cap and trade futures market in just five months, the liquidity of the UK ETS is growing in terms of volume and open interest, and participation is increasing. The UK ETS is one part of ICE’s global environmental markets which help the market to price, manage and hedge climate risk, helping companies to make decisions on where to allocate capital and invest in green technologies”.
ICE offers customers access to the largest and most liquid environmental markets in the world to price climate risk. More than 14 gigatons of carbon trades on ICE annually, equivalent to approximately 40% of the world’s total annual emissions footprint based on current estimates.
Intercontinental Exchange, Inc.(NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
