ICE Expands its Global Environmental Complex With the Launch of UK Emissions Futures And Hosts First UK Emissions Auction
May 19 2021 - 9:21AM
Business Wire
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global
provider of data, technology, and market infrastructure, today
announced that it has launched ICE UK Allowance (“UKA”) Futures
contracts and today hosted the first auction of the UK Emissions
Trading Scheme (“UK ETS”).
Today, 6,052,000 UK allowances were offered for auction and all
allowances were sold during the auction. Auctions of UKAs take
place every other Wednesday throughout the year, between 12.00 and
14.00 UK time. Auctions have a floor price of £22 per tonne.
ICE UK Allowance (UKA) futures contracts, which launched today,
are equivalent to 1000 Allowances. UKA Daily Futures are due to be
launched on May 21, 2021.
ICE UKA futures trade on ICE Futures Europe and clear at ICE
Clear Europe alongside ICE’s global environmental complex,
including European Union Allowances (EUA), California Carbon
Allowances (CCAs) and California Carbon Offsets (CCOs).
From 2017 to 2020, the number of participants trading ICE’s
carbon markets increased by more than 40%. Participants based in
North America were the strongest contributor to this growth,
increasing by more than 70%. Meanwhile, the number of participants
trading both European and North American carbon markets at ICE grew
by approximately 85%.
“The first UK carbon auction today has seen active participation
by the market”, said Gordon Bennett, Managing Director, Utility
Markets, ICE. “Market based mechanisms like emission trading
schemes play a crucial role in helping customers reduce their
carbon emissions by attributing a cost to pollution. Now, there is
an enormous opportunity for cap and trade programs to take an even
greater role in supporting customers’ carbon reduction goals,
whether it is increasing their sector coverage or encouraging
international linking.”
ICE has been a leader in environmental markets for over two
decades and offers customers access to the largest and most liquid
environmental markets in the world.
More than 14 gigatonnes of carbon trades on ICE annually, which
is equivalent to approximately 40% of the world’s total annual
energy-related emissions footprint based on current estimates. A
wide and increasing group of stakeholders use the price signals
from ICE’s global markets and indices to help assess climate
transition risk in their portfolios, and access liquidity pools for
compliance purposes, managing risk and allocating capital to
benefit from energy transition opportunities.
Full details of the UK Allowance (UKA) auctions, including the
auction calendar and auction results, can be found here alongside
FAQs. Market participants who are interested in bidding in UK ETS
auctions should contact sales-utilities@ice.com.
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.
ICE- CORP Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20210519005572/en/
ICE Media Contact: Rebecca Mitchell
Rebecca.Mitchell@ice.com +44 7951 057 351
ICE Investor Contact: Mary Caroline O’Neal
marycaroline.oneal@ice.com (770) 738-2151
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