Secondary Market Digest
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Premium Bulletin (2018/36), 10 September, 2018
Broker Spot CCA: $15.42 (0.6%)
Broker OTC CCA: V2018 Dec 18 $15.49 (0.3%)V2019 Dec 19 $16.45 (0.9%)
ICE CCA: V2018 Front $15.44 (0.5%)V2018 Dec 18 $15.58 (0.4%)V2019 Dec 19 $16.38  (0.5%)
Broker CCO 2018 Delivery: CCO8 $13.96 (0) CCO3 $14.11 (0) Golden $14.39 (0)

Broker CRT 2018 Delivery: Forestry $13.75 (0) ODS $13.75 (0) Livestock $13.75 (0)

All CCOs: 116,710,321 (14,932,093 buffered; 88,955 invalidated; 21,721,407 retired; 8,638,173 in compliance accounts)
Quebec offsets: 628,018
Offsets surrendered for compliance obligations of Quebec entities: 298,812
WCI Offsets available for future compliance: 80,278,231
All CCO-3s: 41,315,549 (4,679,812 buffered)
CCO-0s: 25,452,572 (2,803,184 buffered)
Credited EA projects: 128
Credited compliance projects: 235 (of 416 listed, including 267 registered)
ROCs awaiting ARBOC issuance: 33,384,748
California Carbon Allowance trades decrease as prices see a gradual increase on the forward curve. The beginning of the week, market did not see any movement in CCA prices. Following day, prices gained an average of 6-cents as intraday volatility was high, deliveries gained anywhere from 3-cents to 9-cents. Mid-week prices stood still not before reverting back to a steady increase gaining 2-cents on average on the penultimate day of the week. The week rounded-up with only front (V18 Sep18) and V18 Oct18 delivery gaining 2-cents while other deliveries stayed stationary on the forward curve. As of Friday (09/07) front is trading at USD 15.44 which is an 8-cent weekly gain while benchmark (V18 Dec18) is trading at USD 15.58 which is a 6-cent weekly gain.

Weekly Feature

Secondary Market Digest
A summary of a comprehensive analytical and statistical breakdown showcasing the monthly trends in the market for CCA’s:
  • In August, volume totaled to be 57.2 million tons
  • Vibration analysis also suggests that prices have been significantly more volatile in August compared to July which can be credited to the Joint Auction 16
  • The discount factor for golden CCOs went up to 7.28% in August from 7.00% in July which is a 0.28% increase over a month
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