Börse München (Munich stock exchange), together with Deutsche Bank, as its clearing and settlement partner has started a state-of-art trading exchange for emission certificates, “greenmarket”, trading on Exchange technology provided by Trayport Exchange Systems.
Greenmarket offers compliance buyers, brokers, credit institutions and financial services providers equitable, simple and fast access to emissions trading. CO2 emission certificates have been traded via greenmarket since 2 October 2009 – from a volume of 500 tons upwards, every trading day from 8:00 a.m. to 6:00 p.m.
With OTC trade on greenmarket, volumes of 1 ton and upwards may change hands. On greenmarket, participants can trade in EUA (European Union Allowance) and CER (Certified Emission Reduction) certificates.
“With Deutsche Bank Trust & Securities Services, London, the Börse München has been able to win over an excellent partner for the clearing transactions on greenmarket,“ emphasizes Dr. Christine Bortenlänger, member of the management of Börse München.
“We are pleased to have the opportunity to contribute to the success of greenmarket with our carbon credit clearing and settlement solution,” says Michael London, Director, Product Management for Global Debt Services at Deutsche Bank. “An efficient clearing and settlement as offered by Deutsche Bank is a precondition for a smooth operation of the exchange.
This mandate further strengthens Deutsche Bank’s position as a leading provider of clearing and settlement services to a diverse range of participants in the carbon space,” he states and continues, “We are convinced that carbon credit trading will play an important role to reduce carbon emissions worldwide.”
Greenmarket uses the GlobalVision Exchange Trading System provided by Trayport Exchange Systems. “Trayport Exchange Systems is able to provide our market participants with the leading system for trading carbon emissions certificates,” says Bortenlänger. The transactions on greenmarket executed on the platform are fully automatically and cleared by Deutsche Bank on the same day.
Professional market makers ensure the narrowest spreads when trading on greenmarket and guarantee participants a high degree of liquidity. Börse München, being a public institution with an independent market surveillance unit, guarantees a maximum of security and transparency.
“The global economy of the 21st century is shaped by globalization, emerging markets and climate change,” says Dr. Christine Bortenlänger, member of the management at Börse München. “With greenmarket, we are sure that we are taking an important strategic step in positioning the Börse München for the future,” Bortenlänger continues.