Carbon Futures Liquidity Effects: Evidence from the European Energy Exchange (EEX)

Gbenga Ibikunle

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Abstract

The study examines liquidity effects after the onset of trading in phase II of the EU-ETS for EUA futures contracts. Using the orthodox market model and liquidity proxies, evidence of long-term improvement in liquidity of the EEX EUA December 2008 futures contract after the commencement of trading in phase II is obtained. Results suggest the application of a new regime of trading rules in phase II led to the improvements in liquidity.
Original languageEnglish
Publication statusPublished - 26 May 2011
Event7th Scottish Doctoral Management Conference - University of St Andrews
Duration: 26 May 201127 May 2011

Conference

Conference7th Scottish Doctoral Management Conference
CityUniversity of St Andrews
Period26/05/1127/05/11

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