Spectron brokers the first California Carbon Option
Spectron Environmental, the environmental products division of leading commodities brokerage Spectron, is pleased to announce it has brokered the first cleared Californian CO2 option. The Climate Action Reserve CRT (Carbon Reduction Ton) Option was a Dec ‘09 CCFE CRT $8 Call with a $0.88 premium. Spectron wishes to pay special mention to the counterparties involved ― C-Quest Capital LLC and DigiLog Global Environmental LLC, which were integral to this industry first.
“I am pleased that C-Quest Capital was able to participate in this pioneering trade of a Climate Action Reserve options contract. This landmark deal underscores the integrity of CAR’s program, as well as C-Quest’s commitment to quality. Having recently completed the first-ever CAR futures deal, we are delighted to continue achieving these milestones in the U.S. carbon market,” said Ken Newcombe, CEO, C-Quest Capital LLC. DigiLog Global Environmental LLC is likewise optimistic about the expected growth of the CRT market.
“We are delighted to have been involved in such a ground-breaking deal ― the latest in a long line of market firsts for the Spectron Environmental team, and hope we can contribute to the development of liquidity in this exciting new market.” said Gordon Bennett, Managing Director of Spectron North America. “Whether it’s RECs, CO2, SO2, NOx, Biofuels or the origination of primary green projects globally, Spectron Environmental is proving time and time again that its experience and focus on customer service is a winning combination ― and is fast becoming the one-stop shop of choice for environmental products.”
Spectron Environmental was awarded the 2008 Gold Award for Excellence in Emission Markets from Energy Business and 2008 US Emissions House of the Year Award from Energy Risk magazine. It has brokered a number of market firsts, including: the first OTC REC option in the US; the first 2012 OTC CO2 trade in Europe; the first OTC CO2 option settled against the CCX; the first National Green-E Wind REC option; the first Delaware Solar REC; and the first “clean” (emissions-related) spark spread in Europe.
Spectron, which was named Broker of the Year in the 2007 and 2008 Energy Business awards, operates a global wholesale marketplace for energy and commodities from its offices in London, Singapore, Frankfurt and across the US. Markets covered include: natural gas, electricity, oil, coal, metals, weather derivatives, petroleum products and nuclear fuels, as well as emissions and environmental products.
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