LONDON--(BUSINESS WIRE)-- Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that ICE Futures Europe has been appointed to host Phase III emissions auctions on behalf of the UK Government's Department of Energy and Climate Change (DECC) out to 2017.

ICE Futures Europe was first appointed by DECC in 2012 to host emissions auctions from 2012 until the end of 2015, and this will now continue until November 2017. The auctions are for Phase III European Union Allowances (EUAs) and European Union Aviation Allowances (EUAAs) spot contracts. The minimum bid in the auctions is for one lot and each lot represents an entitlement to emit 500 tonnes of carbon dioxide equivalent gas. The auctions are cleared and settled by ICE Clear Europe.

“We are delighted to continue to host UK emissions auctions on behalf of DECC and we would like to thank both DECC and the trading community for their continued support and trust in our auction platform. ICE Futures Europe is committed to providing transparent price discovery and liquidity for the European emissions market which leads the way in using markets as a means to help reduce carbon emissions,” said David Peniket, President & COO, ICE Futures Europe.

The auctions take place on WebICE, ICE's front-end trading platform. WebICE is widely recognised for its state-of-the-art functionality, which delivers connectivity and reliability to global participants.

ICE Futures Europe operates as a Recognised Auction Platform and is recognised and supervised by the Financial Conduct Authority (FCA). ICE Futures Europe offers futures and options contracts on four types of carbon units: EU Allowances (EUAs), Certified Emission Reductions (CERs), Emissions Reductions Units (ERUs) and European Union Aviation Allowances (EUAAs).

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. The New York Stock Exchange is the world leader in capital raising and equities trading.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE'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, 2014, as filed with the SEC on February 5, 2015.

SOURCE: Intercontinental Exchange

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Source: Intercontinental Exchange