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Clearstream launches access to the carbon trading market

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Clearstream, the central securities depository within Deutsche Börse Group, has launched its Global Emissions Market Access service.

GEMA is a custody and settlement service for carbon emission rights created under the United Nations Kyoto Protocol and the European Emission Trading Scheme directive – specifically European Union Allowances and Certified Emission Reduction rights.

GEMA acts as a single point of entry, allowing carbon emission rights to be held and settled in the settlement systems of Clearstream Banking Luxembourg.

Marc Robert-Nicoud, vice president – international markets, says: “The service is designed for financial institutions seeking a simple and secure way to enter the carbon market. GEMA allows Clearstream customers to focus their resources on developing a carbon strategy without the need to invest in dedicated back-office functions. GEMA offers a single point of entry to multiple carbon registries and gives access to the carbon holdings of many of the financial institutions most active in the carbon market.”

The service is available from existing Clearstream accounts and is supported by existing connectivity solutions. Clearstream customers can hold the carbon emission rights in their existing accounts.

One carbon emission right allows the holder to produce one ton of greenhouse gas emissions. EUAs and CERs represent more than 90 per cent of the worldwide spot carbon trading volumes.

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