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CCX volumes continue to be hampered by the stalemate on climate legislation in the U.S. Senate
Date: February 06, 2010
Source: Mumbai (CCX)

Monthly Trading Update for the European Climate Exchange, the Chicago Climate Exchange and the Chicago Climate Futures Exchange

 

CCX CFI (Contracts)

              2010      2009     Change

January   2,870     33,494    -91%

YTD        2,870     33,494    -91%

 

Richard Sandor, Executive Chairman of Climate Exchange plc, said: "The continued lack of political progress and the disappointing outcome of Copenhagen has obviously affected market sentiment and CCX volumes. Nonetheless, Washington clearly remains committed to addressing climate change. In his State of the Union address last week, President Obama called on Congress to pass 'a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America.' At the same time regulators and investors are increasingly weighing the risks associated with climate change, as evidenced by last week's SEC vote on disclosures. These factors, combined with the growing regional interest in cap and trade programs in the U.S., bode well for domestic and global carbon markets and Climate Exchange plc's growth potential."

 

Neil Eckert, Chief Executive Officer of Climate Exchange plc, said:"ECX had another month of solid year on year growth. More pleasing is the continued growth of Open Interest to 600,000 contracts. CCX volumes continue to be disappointing and are expected to stay that way until there is political progress. CCFE volumes have been less severely impacted and once again the Open Interest, up 45% year on year, is encouraging."

 
 
 
 
 
 
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