Banks make first Isda emissions trade

London-based environmental and energy broker Evolution Markets brokered the trade. The transaction, for a “substantial volume” of EUAs at an undisclosed price, is an important milestone in the development of the EU emissions trading scheme (EU ETS) says the group of companies.

The annex will allow counterparties to net their emissions trades with other trades done using the Isda Master Agreement.

Evan Ard, a spokesman for Evolution, says: “Not having an annex to the master agreement has been

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