Utilities and corporates to trade European Emissions Allowances bilaterally as part of Europe’s largest trading network
Enmacc, Europe’s largest over-the-counter (OTC) trading platform for energy and environmental commodities, launched emissions allowances trading on their request-for-quote (RFQ) platform today. Enmacc builds on its success in power and gas trading to expand into environmental markets like guarantees-of-origin and now EU Emissions Allowances (EUAs). Enmacc fills the void of lacking digital OTC trading in a thriving 750 billion EUR market.
The European Union’s Emissions Trading System (EU ETS), which puts a price on climate change-inducing CO2 emissions, is a key measure of decarbonisation in energy and industry. Recently, the market for EUAs became more critical and challenging for participants when prices rose to EUR 100 per ton, and volatility increased significantly.
The vast majority of market participants under this scheme do not have direct access to the primary auctions and secondary markets organised by exchanges. They mostly procure and trade over the phone or via email. This is where Enmacc pioneers as the first digital OTC trading platform to offer emissions allowances providing a faster, more efficient and secure way of trading. Its users profit from improved liquidity and competitive prices. Through the platform, they gain access to a vast network of 470 potential counterparties via the request-for-quote (RFQ) workflow.
In addition, traders benefit from the flexibility of trading beyond standard contracts. Enmacc provides contracts with customised delivery and payment dates and non-standard deal volumes. Enmacc provides these trading services for emissions allowances through its subsidiary Enmacc Financial Services.
With the launch, new market participants are joining the network of Enmacc customers. One of them is the environmental trading house Aither. Aither Co-Founder, Jacopo Visetti commented on the launch, “The addition of emissions allowances to Enmacc’s multi-commodity platform is addressing the market’s needs. Aither traded more than 100 Million tonnes of CO2 in EUAs last year, and now we are excited to bring liquidity to Enmacc’s members.”
This move comes as a response to energy-intensive industrial customers looking towards wholesale markets for hedging of volatile prices and diversifying supply of energy and environmental commodities. Jens Hartmann, CEO of Enmacc, expressed: “Efficient markets for energy and environmental commodities will play a major role in accelerating the energy transition. Especially market-based instruments – such as the ETS – are destined to grow in importance. Enmacc provides digital market access to traders, and corporates need to seize the opportunities in these markets.”
Enmacc is Europe’s largest OTC trading platform for energy and environmental commodities. Their digital marketplace enables members to trade faster, more widely, and with greater control. Enmacc GmbH is trusted by over 470 customers, and hosts a growing network of 2000 traders from various institutions — energy suppliers, industrial companies, energy trading houses, and municipal utilities.
Enmacc is now using its reach in the European market to accelerate the energy transition. Moving beyond power and gas, they have started rolling out environmental commodities such as guarantees of origin, and now emissions allowances.
Enmacc GmbH was founded in 2016 and is headquartered in Munich, Germany. Since 2022 Enmacc Financial Services GmbH (“EFS”), a 100% subsidiary of Enmacc GmbH, provides the platform solution for trading in financial instruments.
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