European Union Emissions Trading Scheme (EU-ETS) Futures Liquidity Effects: Evidence from the European Energy Exchange (EEX)

Gbenga Ibikunle, Andros Gregoriou

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Abstract

We examine liquidity effects after the onset of trading in phase II of the EU-ETS for European Union Allowance (EUA) futures contracts. We obtain evidence of long-term improvement in liquidity of the EEX EUA December 2008 futures contract after the commencement of trading in phase II. Our results suggest the application of a new regime of trading rules in Phase II led to the improvements in liquidity.
Original languageEnglish
Pages245-252
Number of pages8
Publication statusPublished - 1 Jul 2011
Event8th International Conference on Advances in Applied Financial Economics - Samos Island, Greece
Duration: 30 Jun 20112 Jul 2011

Conference

Conference8th International Conference on Advances in Applied Financial Economics
CountryGreece
CitySamos Island
Period30/06/112/07/11

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