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Average trading volume in December remained healthy despite the drop-off during the holiday period – average daily volumes in EUA and CER futures and options on ECX were 9 Mt (9,026 lots).
2008 was a tremendous year of growth for the carbon market and for ECX, with a total of 2.81 billion tonnes traded through the exchange, representing a 170% year-on-year increase. Average daily volume for all contracts in 2008 was nearly 11 Mt.
The EUA and CER December 2008 futures contracts expired on 15th December. ICE Clear, the new clearing house for ICE products since November, successfully handled a combined total of 117,742 lots of open interest going to physical delivery at the UK Registry.
A high proportion of futures positions went to expiry: 99,798 contracts in EUAs, from a peak in open interest of over 120,000 contracts in October this year; and 17,944 contracts in CERs, from a high of over 24,000 in September. Total open interest stands at over 356 Mt CO2, up from176 Mt at the end of 2007.
ECX thanks all market participants for their ongoing support, and wishes all a very happy and prosperous 2009.
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