Orbeo makes first Phase III carbon trade on ECX

Carbon trading company Orbeo has completed the first futures trade for Phase III of the EU emissions trading scheme (EU ETS), on European Climate Exchange's 2013 EUA contract.

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 EUR27.70 per tonne.

Orbeo managing director Jerome Malka comments that the transparency brought by the new contr