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JP Morgan, Gunvor trade first 2020 EU carbon futures

Fri, 08/06/2010 - 3:27am
Reuters

LONDON (Reuters) - The first trade in European Union carbon permit futures for delivery in 2020, the year the next phase of the EU's Emissions Trading Scheme ends, was done on Friday for 22.72 euros ($29.98) a tonne, the deal's broker said.

The over-the-counter trade on the European Climate Exchange (ECX) between Gunvor Global Energy and JP Morgan involved a complex structure that included contracts with other delivery dates within phase 3 of the scheme (2013-2020), Tradition said in a statement.

"This supports our belief in the longevity of the carbon market, and we are pleased to remain at the forefront as it continues to evolve," said Mike Anderson, head of European energy at Tradition.

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