Sibex changes the trading procedure for CO2 emission certificates

The Sibiu Exchange (Sibex), has changed the trading procedure for CO2 emission certificates, by approving the listing of 2 carbon contracts, in order to help Romanian companies that own or need this type of certificates, the company said in a press release. the novelty stems from the fact that even though both contracts account for 100 tons of carbon, one will be traded at a price including VAT, whereas the price of the second type of contract will not include VAT, in order to meet the special characteristics of the carbon certificate market, the officials of the stock exchange claim.

The decision of Sibex comes as these instruments have been classified by the Romanian National Securities Commission as securities, which will allow their trading on an exchange without any trouble, is currently the object of a lawsuit, which has blocked its implementation.

"One of the benefits of trading carbon certificates on SIBEX is the low cost, of just 3 lei per contract, that is 3 bani per ton of CO2. By comparison, on Bluenext, commissions range from 1 to 2 Eurocents per ton (4 - 8 bani/ton). This also includes the benefits of transparency, swift execution and guaranteed settlement", said Darius Cipariu, Deputy Managing Director of Sibex.

În December 2009 the Sibiu Exchange launched the futures contract CO2 2008 - 2012 representing the equivalent of 100 certificates of greenhouse gas emissions (100 tons of CO2 emissions). This contract is being traded through the electronic system of the Sibiu Exchange, (GlobalVision by Trayport), a system which is widely used across the European energy markets.

Romanian companies which own certificates can trade them using 30 authorized members (brokerage firms and commercial banks), with prices denominated in lei. The CO2 2008 - 2012 contract has a 1 day maturity and trades performed during a session are guaranteed by the Romanian Clearing House (CRC), the aforementioned press release states. Delivery of the certificates as well as their payment by the buyers is also guaranteed by the Romanian Clearing House two days after the trade took place.