Orbeo makes first Phase III carbon trade on ECX

The December 2013 ECX contract, along with a contract for December 2014 delivery, was launched on 8 April.

Orbeo made the first 2013 trade with an undisclosed counterparty for 10 lots (equivalent to 10,000 EUAs) at €27.70 per tonne.

Orbeo managing director Jérôme Malka comments that the transparency brought by the new contracts is “crucial in pricing the longer-dated forward curve”.

Sara Stahl, business development manager at ECX, says that, while a successor to the Kyoto Protocol has yet to

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