ICE to move EU carbon trading to Netherlands from London in Q2 2021 By Reuters

By Susanna Twidale

LONDON (Reuters) – Intercontinental Exchange (ICE (NYSE:ICE)) will move its trading of European carbon futures and options to its Netherlands-based exchange in Amsterdam from London in the second quarter of the year to ease trading for members, it said on Monday.

EU carbon allowances (EUAs) are the currency used in the EUs emissions trading system (ETS), the 27-member bloc’s main tool to help reduce the greenhouse gas emissions that cause climate change.

“This decision … will help those who rely on these markets to meet obligations and manage climate price risk in the most cost-effective and seamless manner,” Stuart Williams (NYSE:WMB), President of ICE Futures Europe, said in a statement.

ICE said it would announce an exact date for the move in due course.

The clearing of the contracts will remain at ICE Clear Europe in London, the exchange said.

ICE is one of the main exchanges trading EU carbon allowances and had combined average daily volumes of around 47,000 contracts of EUA futures and options in 2020, equivalent to 47 million allowances or 47 million tons of carbon dioxide equivalent, ICE said.