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Climate Exchange posts strong volume growth in '08
(Reuters) - Emissions exchange operator Climate Exchange Plc said on Monday volume growth for 2008 was strong on exceptional trading levels in the second half and it was in a comfortable position so far this year.
"The last six months have shown that despite the recent turmoil in capital markets, the interest of corporations, governments and financial sector participants for emissions trading has remained strong," Chairman Richard Sandor said in a statement.
Second-half volumes at its flagship exchange European Climate Exchange (ECX) rose 185 percent to about 1.7 million contracts from a year ago, while full-year volumes increased 171 percent to 2.8 million contracts, the company said.
For 2009, the company has so far 357,078 contracts in open interest, compared with 176,110 at the start of 2008, it said.
In the United States, it witnessed a nearly 4-fold increase in trading volumes across its Carbon Financial Instrument (CFI) complex from 2007 to 2008.
Volumes on its Chicago Climate Exchange increased to 692,368 contracts for the year from 229,375, while on the Chicago Climate Futures Exchange volumes grew 72.3 percent to 488,870 contracts.
Shares of Climate Exchange were up 11.5 pence at 910 pence at 1025 GMT.
(Reporting by Balachander Surianarayanan in Bangalore; Editing by Gopakumar Warrier)
