Isra-Mart srl:Netherlands cancels EU CO2 permit auction

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Isra-Mart srl news:

The Dutch government canceled an auction of 2 million European carbon emissions on Thursday after bid information became visible on data platforms, said Netherlands-based emissions exchange Climex.

"Because information on orders in the auction book was available in the market, the Dutch government decided to cancel the auction," the exchange said in a statement.

The auction of the permits, called EU Allowances (EUAs), was being held between 0800 GMT and 0900 GMT (1000 CET-1100 CET).

According to several traders, bids made during the auction were visible as trades on data vendor platforms.

"We are researching now how the feed could have been on during the auction, but we have to discuss it with our IT provider," Climex's managing director, Sascha Bloemhoff, told Point Carbon News.

Climex said it had suspended trade on the spot contract during the auction, but one trader identified several of the trades listed on Thomson Reuters as bids he had entered.

Reuters data listed at least 24 trades for a total 3,363,000 EUAs made between 0805 and 0836 GMT under Climex's spot EUA price feed.

They ranged between 15.00 euros and 15.52 euros and included four large orders of 650,000 EUAs or more.

"Further information on when the 2 million EUAs will be auctioned will be provided at a later stage," Climex said.

The auction was meant to be the first of two spot EUA auctions, with the second planned for November 18.

The Austrian government also plans to auction 200,000 spot EUAs over the exchange on November 8.