UK Government’s Department of Business, Energy and Industrial Strategy Adopts ICE Connect for Analysis of the UK Emissions Program
ATLANTA & LONDON–(BUSINESS WIRE)–Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that the UK Government’s Department of Business, Energy and Industrial Strategy (BEIS) will use the ICE Connect desktop platform for analysis of the UK’s Emissions Trading Scheme (ETS) markets.
ICE Connect brings together a range of cross-asset real-time data, news and analytics for global markets. The comprehensive platform helps customers manage price and currency risks, and streamline workflows. In addition to UK ETS market data, BEIS will have access to data for UK and European utility markets, including ICE’s benchmark natural gas, power and environmental products.
“As companies and governments continue to adopt net zero carbon policies, we are excited to work with forward-thinking organizations like BEIS as they expand their monitoring and analysis of environmental and utility markets,” said Amanda Hindlian, President of Fixed Income and Data Services at ICE. “Whether it’s through ICE’s futures markets or other innovative offerings – such as our ICE Climate Risk service – we have a robust and growing portfolio of solutions to help measure, evaluate and manage risk in markets affected by the energy transition.”
A leader in environmental markets and indices, ICE was appointed by BEIS to host emissions auctions for the UK Emissions Trading Scheme (UK ETS), which started on May 19, 2021. ICE offers customers access to the largest and most liquid environmental markets in the world. The company’s benchmark energy futures contracts help provide price discovery and risk management for natural gas, power, environmental products and oil markets across Europe and in key regions around the world.
A record 18 billion tons of carbon allowances traded on ICE in 2021, equivalent to an estimated $1 trillion in notional value and equal to over half the world’s estimated total annual energy-related emissions footprint. Reflecting how companies use these markets to manage and price carbon, as well as meet compliance obligations, a record 19 million environmental futures and options contracts traded on ICE in 2021. These traded contracts included a record 15.2 billion EU carbon allowances, a record 2.4 billion California carbon allowances, 346 million Regional Greenhouse Gas Initiative allowances and, following its launch in May 2021, 255 million U.K. carbon allowances.
For more information on ICE’s energy markets, please visit https://www.ice.com/energy. More information on ICE Connect can be found at: https://www.theice.com/market-data/desktop-solutions/ice-connect.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
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SOURCE: Intercontinental Exchange
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