"From October, Berenberg will offer its business clients both the procurement of EUAs and their secure storage in custody accounts. "Thanks to our membership of the Energy Exchange in Leipzig, we can offer our clients a comprehensive service. This includes trading, custody and posting to EU registry accounts of the German Emissions Trading Authority," says Arne Christian Rahner, Head of Financial Markets at Berenberg.
Dr Tobias Paulun, CEO of European Commodity Clearing (ECC) and responsible for the strategy of the EEX Group, adds: "We are delighted that Berenberg is strengthening the network of trading participants at EEX and is also acting as a clearing bank at ECC. As a Direct Clearing Member, Berenberg can take over the clearing and settlement of trades for itself and its clients. It is particularly important for the successful expansion of emissions trading to the shipping sector that participants have a wide range of access options to the market and we very much welcome the fact that Berenberg is strengthening this distribution."
The EEA market is still a young market. The last few years have been characterised by strong price increases as well as price dynamics. "It is therefore all the more important to generate efficient solutions for this topic in good time and together with a trusted and experienced banking partner," says Rahner.
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