Dear Ladies and Gentlemen,

The tough struggle for a trade agreement between Europe and Canada (CETA) once again highlighted the disagreement within the European Union. But this is nothing unusual in such an inhomogeneous political structure; it's in the nature of things.

However, national interests, or just even regional interests, appear to gain in the political discussion increasingly stronger weight. Democracy, however, has always been defined by the will of the majority, while a veto (in Latin 'I forbid') expressly opposes the majority of wills. How effective the European Union in fact can act, only depends on which system of decision-making the Member States agree. It should not be too difficult to define qualified majorities.

And this is really necessary, because in a week the 22nd World Climate Conference starts in Marrakech, the first after the historical summit in Paris. It will be about the practical implementation of the ambitious decisions to curb global warming and with it about all or nothing. The stronger the EU can act with one voice, the greater the probability of an effective action plan. Of course, also the areas that are not yet ruled under the ETS, such as the transport sector or agriculture, must be taken into account.

Last week, the CO2 market was much less volatile than before. As the traders seemed to have lost a little of their courage, the course moved sideways. The average trading margin was between EUR 5.75 and EUR 5.95.

(Average Quotes Exchange / OTC)
Instrument 2016-10-28 2016-10-21 Change
EUA (Spotmarket) 5.88 EUR 5.89 EUR -0.01 EUR
EUA (December-2015-Future) 5.88 EUR 5.89 EUR -0.01 EUR
CER (Spotmarket) 0.36 EUR 0.38 EUR -0.02 EUR
ICE Brent Crude Oil (Benchmark Future) 50.63 USD 51.88 USD -1.25 USD
EURO (Currency, Forex) 1.0983 USD 1.0880 USD +0.0103 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask have usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. These market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

With kind regards,

Advantag Brokerage GmbH

Advantag AG published this content on 31 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 October 2016 12:02:10 UTC.

Original documenthttp://www.advantag.de/news/emissions-trading-carbon-market-news-2016-10-31-p2668/?lang=en

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