Dienstag, 17. Juli 2012

Second round of NER 300 auctions announced for August and September

A second round of auctions for the NER 300 Initiative will start on 1st August, 2012. This will be the first time that both exchanges have held auctions and auctions will now take place on all trading days. These will take place on two exchanges selected for NER 300 sales, the European Energy Exchange (EEX) and ICE Futures Europe, (ICE).

The European Investment Bank will auction 500,000 EUA a day during August and September. Auctions will be held on the EEX Derivatives Market on Mondays and Tuesdays and ICE from Wednesday to Friday. EEX already held EUA emission allowance auctions of the third trading phase on four days a week on behalf of EIB during June and July. 

The European Investment Bank selected EEX and ICE Futures Europe as co-operation exchanges for on exchange sales of 300 million EUA. Monetization of the first tranche of 200 million EUA is to be concluded by the end of September. The EIB uses a range of sales channels. Alongside on-exchange auctions, this includes direct sales on the secondary market and clearing of over-the-counter transaction.

Source: EIB

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