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Carbon

Nasdaq Commodities provides trading, clearing and physical delivery of European Union Allowances (EUA). We were the first exchange in the world to offer EUA and CER emmission derivatives and have a strong experience based knowledge of the carbon markets.

  • Continuous trading in the electronic trading system from 08.00 to 18.00 CET (07:00-17:00 GMT)
  • Trading and clearing of block trades from 07:45 until 19.00 CET (06:00-18:00 GMT)
  • Tradable on Norwegian Bank Days

What are EUAs?

A European Union allowance (EUA) is the official name for Europe’s emission allowances, which in 2008 was defined as the official Kyoto allowance for countries in the EU. One EUA entitles the holder to emit one tonne of carbon dioxide or carbon-equivalent greenhouse gas. The EU member states issues new EUAs on 28 February every year to each company subject to the EU’s emission trading scheme. These awards are made in accordance with an allocation plan approved by the European Commission and based on the Kyoto protocol’s obligations. EUAs are awarded for one year at a time. By 30 April, companies are obliged to “pay” the number of EUAs corresponding to their actual emissions in the preceding year. EUAs can also be saved from one year to another if a company releases less carbon dioxide than the EUAs it holds.

EUA Derivatives offering

  • Day Future contracts
  • Quarterly Future contracts for 2013-2020
  • Spread contracts
  • SWAPs and STRIPs
  • Pre-delivery option for EUA net sellers to fulfill collateral requirements

Clearing

Nasdaq Clearing is the contractual counterparty in all contracts traded at Nasdaq Commodites' financial market. Clearing guarantees the financial settlement. The daily settlement is automatic, and members are connected to the settlement system through a variety of multinational settlement banks. Read more >>

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