REC and NOx firsts for Spectron

Yesterday it brokered what is understood to be the first ever Delaware REC (Renewable Energy Credit). The 2008 Delaware Class 1 REC Call option, with a strike price of $15, an expiration of May 31, 2008, and contract volume of 10,000 MWh, was agreed at a premium of $2.00. The names of both counterparties involved in the trade are to be kept confidential. 

And today Spectron brokered its first ever annual NOx (nitrous oxide) trade. The transaction was

The December 2010 CCFE $3.00/$4.00 strangle option was concluded at a premium of $1.30, for 10,000 tonnes of CO2. The names of both counterparties involved in the trade are to be kept confidential. 

In recent months Spectron has brokered several pioneering deals, including the first REC (renewable energy credit) OTC option trade in the US and the first CO2 OTC option trade settled against the Chicago Climate Futures Exchange (CCFE).

Since the beginning of this year Spectron’s US environmental products team has more than doubled in size – the company now covers these markets from three key locations in the US. Spectron has also extended its coverage to include the ethanol/biofuels market. Meanwhile its daily market summary is now being used for price benchmarking by hundreds of US companies.

Spectron has also just set up a global structured emissions desk, concentrating on primary markets and CDM project origination as well as brokering nuclear fuels. It is at the forefront of servicing the growing interest in trading high-quality carbon offsets between Europe and the US and has just taken on a dedicated broker to focus on the Chinese environmental and nuclear markets.     

Spectron’s emissions team in Europe has also expanded significantly over the last few months, following the merger with Imarex, further boosting its market share of the EUA and CER markets.

“We are extremely proud to have been involved in yet another landmark emissions deal – it’s a testament to the hard work our team has put in and to our growing reputation as the one-stop shop for environmental products in the US.” said Mike Ferguson, Senior Vice President of US Environmental Products at Spectron.

“We are delighted to have been involved in this landmark deal – there certainly appears to be demand for derivative trading among OTC REC traders, and we hope that we can help stimulate increased interest and liquidity in this new area,” said Mike Ferguson, Senior Vice President of US Environmental Products at Spectron.

For further information, please contact Richard Frape +44 207 074 2008