No recycled CERs on Climex Spot Platform

There is currently a lot of commotion on the market regarding the trading of already surrendered Certified Emission Rights (CERs), also described as ‘recycled CERs’.

Apparently, Hungary sold a large volume of CERs which had already been surrendered for compliance. The sale is possible under the rules of the Kyoto Protocol, however, a company buying these so called ‘recycled’ CERs cannot use them for compliance and could incur economic losses. Climex has immediately taken action to assure that such recycled CERs cannot be traded on its exchange.

Therefore, we would like to inform the market that Climex does not allow CERs (Certified Emission Rights) onto the spot trading platform which have previously been cancelled or surrendered to a competent authority.
To implement this change, Climex and its central counterparty APX ENDEX check all CERs against the list of surrendered CERs which has been released by the European Commission (http://ec.europa.eu/environment/climat/emission/pdf/100203_cer_eru_surrendered.xls ), before they are allowed onto the spot trading platform as collateral for a seller.
This to assure all market participants they do not receive any surrendered CERs when they buy CERs on Climex.