CHICAGO, Aug. 29, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the first trade of the California Carbon Allowance forward contract. In addition to being the first trade of this cleared contract on ICE, it is the first ever exchange cleared trade based on California's new cap and trade program.
(Logo: http://photos.prnewswire.com/prnh/20090727/CL51999LOGO )
The transaction was for 100 contracts, representing 100,000 vintage 2013 California Carbon Allowances for delivery in December 2013, at a price of $17.00 per allowance. These terms were agreed to on August 10, 2011, between NRG Power Marketing LLC and Shell Energy North America (US), L.P. (Shell Energy) for this first trade.
"This forward contract is significant, not just because it's a first, but because it will help provide some liquidity to the nascent California carbon market. Added liquidity will enable entities across the state to utilize a methodical, measured approach in managing their emission reduction goals, schedule and associated costs," said
Tom Ingwers, Shell Energy vice president environmental products.
The counterparties to the trade above confirmed their participation at the request of ICE.
ICE launched trading on OTC physical environmental forwards today: see full list of products.
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE Futures Europe and ICE Clear Europe. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the SEC on February 9, 2011 and ICE's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, as filed with the SEC on August 3, 2011.