[ISN] EU Carbon Trading Declines as Regulator Halts Spot Market on Hacking Probe

http://www.bloomberg.com/news/2011-01-20/carbon-trading-declines-as-eu-regulator-halts-spot-market-on-hacking-probe.html

By Ewa Krukowska and Mathew Carr 
Bloomberg
Jan 20, 2011

Futures trading in European Union carbon allowances fell and an 
investors group said it was “very concerned” after regulators disabled 
spot transactions in the world’s biggest emissions program because of 
alleged hacking.

Volumes shrank to about 305,000 metric tons in the first 90 minutes of 
trading, or a rate of 200,000 tons per hour, compared with yesterday’s 
1.2 million. Prices for EU permits for December 2011, which fell 
yesterday the most in a week, were little changed today at 14.40 euros 
($19.45) a metric ton as of 10:10 a.m. on the ICE Futures Europe 
exchange in London.

The European Commission suspended most operations yesterday at all 30 of 
the region’s greenhouse-gas emissions registries after a Czech firm 
reported about 6.8 million euros of carbon allowances stolen in a 
hacking attack. The Nasdaq OMX Commodities exchange said today it's 
suspending trading and clearing of prompt-delivery EU allowances, or 
EUAs, and United Nations-supervised Certified Emission Reductions “until 
further notice.”

“Trading in and clearing of EUA and CER forward, futures and options 
remains open,” Nasdaq said in an e-mailed statement. “However, the 
situation will be closely monitored to ensure that orderly trading and 
clearing can take place.”

[...]


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