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Samsung Asset Management Selects ICE Data Indices for KODEX Europe Carbon Allowance Futures ICE(H) ETF Covering ICE EUA Futures Contracts
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Intercontinental Exchange (NYSE: ICE) announced that Samsung Asset Management has licensed the ICE EUA Carbon Futures Index for the KODEX Europe Carbon Allowance Futures ICE(H) ETF. This ETF is the first of its kind globally, designed for Korean and international investors to efficiently participate in carbon futures markets. The index benchmarks euro-denominated EUA contracts under the EU Emissions Trading System, addressing diverse client needs as market participants increasingly focus on carbon pricing and climate transition risks. ICE's indices benchmark over $1 trillion in global assets.
Positive
Launch of KODEX Europe Carbon Allowance Futures ETF, first globally to track EUA contracts.
Addresses growing investor interest in carbon market participation and climate risk management.
Samsung Asset Management recognized ICE's liquid environmental markets for its ETF.
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ATLANTA & NEW YORK--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Samsung Asset Management has licensed the ICE EUA Carbon Futures Index for a new exchange traded fund (ETF), the KODEX Europe Carbon Allowance Futures ICE(H) ETF.
The ICE EUA Carbon Futures Index measures the performance of a long-only basket of ICE EUA Futures Contracts. Each EUA contract is euro-denominated and represents a lot of 1,000 Carbon Emission Allowances (“EUA”) that are deliverable to or from the Union Registry under the European Union Emissions Trading System. The index will serve as the benchmark for Korea’s first carbon-based ETF and the first of its kind globally solely tracking the performance of EUA contracts. The new ETF is designed to allow Korean and global investors to participate in carbon futures markets more efficiently.
“A growing number of market participants are looking to use global markets to offset their carbon footprint, manage the cost of carbon, and assess climate transition risk,” said Magnus Cattan, VP, Fixed Income and Data Services, APAC at ICE. “Samsung Asset Management stands as one of Korea’s foremost asset managers, and this new product helps address the diverse and evolving needs of its clients by allowing investors to access market-based carbon prices through a single investment instrument.”
“We were drawn to ICE because it offers our customers access to one of the largest and most liquid environmental markets in the world,” said Jaehun Jeong, Portfolio Manager at Samsung Asset Management. “The ICE EUA Carbon Futures Index tracks one of the most actively traded carbon markets and represents some of the largest economies in the world. As market participants continue to pay increasing attention to the energy transition and climate risk, this ETF will provide greater hedging and trading opportunities for retail and institutional investors.”
ICE’s global family of indices serve as the performance benchmark for more than $1 trillion in assets managed by investors around the globe. For more information about ICE’s Indices, please visit: https://www.theice.com/market-data/indices.
About Intercontinental Exchange
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.
What is the KODEX Europe Carbon Allowance Futures ETF?
The KODEX Europe Carbon Allowance Futures ETF is designed to allow investors to participate in carbon futures markets, tracking the ICE EUA Carbon Futures Index.
When was the KODEX Europe Carbon Allowance Futures ETF announced?
The ETF was announced by Intercontinental Exchange on the date of the press release.
What does the ICE EUA Carbon Futures Index measure?
The ICE EUA Carbon Futures Index measures the performance of euro-denominated ICE EUA Futures Contracts.
Who licensed the ICE EUA Carbon Futures Index?
Samsung Asset Management licensed the index for its new ETF.
How does the new ETF benefit investors?
The ETF provides an efficient way for investors to access and hedge against carbon futures markets.
