Merrill Lynch New Energy Technology Plc

UK emissions trading exchange owner Climate Exchange announced rapidly-increasing volumes on the European Climate Exchange, which passed the one million tonnes of carbon dioxide futures per day mark in June. The exchange has traded in excess of 10 million tonnes of carbon dioxide futures contracts since its launch in April, and continues to benefit from responses to Kyoto as well as a growing awareness among companies of their environmental footprint.

Anybody watching this one?

There you go. Pulled out by stops earlier. Now waiting to reload.

Climbed back on with the dip. But its scary quiet here. Could do with some company or am I about to be stamped on........?

I am a sucker for a good storey but is there more to it than the idea that if Sandor builds an exchange trading will come?.

Still going for it. Anyone know why?.
Can't work out why this goes up and GTL gets knocked down.
Keep lifting stops as it can't go for ever.

Must run out of steam soon. Very annoyed at having stops hit on gtl yesterday as they seem to have great potential. As far as I see Cle don't really have a sound business until a cap and trade market is set up in the US.
But you just have to go with the flow. S/B how with 300+pips. What a crazy world.

No interest here?.

Been in then out, shake it all about. Back in Tues. and lots more today. Them good old yanks look more and more like going cap and trade.

It seems CLE has been over-rated as carbon credit has drop from 17 euro to less than 1 euro recently. CLE is a SELL!

Can anyone tell me why this stock has such huge daily swings on very little volume? Have been watching it for a while but can't see any reason for the price swings. Maybe it's difficult to trade??? Bid / offer spread is not too great. Opinions gratefully received.

41million shares issued but mainly held by institutions with some share lock ins in force at present. Some institutions are also members of the exchange so probably in for the long run.

EK is very short!!

int results out 19 sep 07.

High volume traded yesterday. Looks like an institution picking these up cheap. Lets hope the start of a recovery on this one.

CLE was informed today that Richard Sandor, Chairman of the Company has sold 250,000 shares

Emissions exchange operator Climate Exchange moved into profit in 2007 as revenues surged and it said growth in 2008 has been even more exciting.

It made a pro-forma pre-tax profit of 850,000 in 2007 compared with losses of 5m the year before. Revenues jumped to 13.6m from 3.9m.

The company, which operates the Chicago Climate Exchange, the Chicago Climate Futures Exchange and the European Climate Exchange, said it was helped by a surge in volumes on all three exchanges.

Personally I think Trading emissions plc (TRE) is a better long term bet.

I HOLD BOTH.

A very interesting article in the ft regarding the future price of carbon :

http://www.ft.com/cms/s/0/ce67fbe0-5333-11dd-8dd2-000077b07658.html

CLE spread 1800 bid, 1844 offer! What's that all about???

Lehman Brothers shuts carbon trading desk - AFX


LONDON, Sept 15 (Reuters) - Lehman Brothers shut down its carbon emissions trading desk after the bank filed for bankruptcy protection, a source close to the company told Reuters on Monday.

'Everything's stopped, blocked ... it's a bit anarchic,' he said.

Lehman declined to comment on the matter.

The U.S. investment bank filed for Chapter 11 protection on Monday while Merrill Lynch, also plagued by toxic, mortgage-related debt, agreed to be bought by Bank of America . Merrill's carbon desk was open as usual on Monday, a source familiar with the bank said.

Lehman's membership on the IntercontinentalExchange, which includes access to the European Climate Exchange, the world's largest emissions trading exchange, was suspended, an ICE spokesman said.

This effectively disallows Lehman from closing any open positions on its trading books.

LCH.Clearnet, which handles clearing for ICE, also restricted Lehman's trading, citing the company as a 'defaulter', the clearing house said in a statement.

'Lehman's were relatively small, they were late coming into the (emissions) market,' one London-based broker said, adding that Lehman is thought to have been more involved in the Clean Development Mechanism (CDM) market than in day-to-day trading.

In the $13 billion CDM market, a trading scheme under the Kyoto Protocol, companies from rich nations can invest in clean energy projects in developing countries and in exchange receive offset credits, called CERs, which they can use toward emissions targets or sell for profit.

Lehman has stakes in up to 10 CDM projects, the first source said. 'There are some very good projects in the pipeline,' he said, adding that they would probably be sold by liquidators.



BACKFIRE

The projects, mostly in China, are expected to generate 10 million to 12 million CERs by 2012, worth up to 275 million euros ($385.4 million) at current market rates.

The source said the projects are of high quality and not involved in the destruction of hydrofluorocarbons (HFCs), a lucrative trade considered controversial by many in the emissions market.

One potential implication of Lehman's demise is the effect felt by those on the other side of these CER deals, often small companies in developing countries.

'If Lehmans have entered into direct contracts with counterparties in the developing world, chances are these contracts are probably not that complex,' the broker said.

'Provisions in the case of bankruptcy probably won't have been included unless Lehmans introduced them unilaterally ... to protect themselves in case of the small (project owner) declaring bankruptcy,' he said, adding that these provisions may now have backfired against Lehman.

European emissions markets were lower on weakness across the global energy markets on Monday.

European Union Allowances for December delivery lost one euro or 4.2 percent at 22.90 euros a tonne on volume of 2,300 lots traded. Benchmark CERs lost close to three percent at 19.20 euros a tonne.

Not seen this level (620p) since spring 2007.
Nothing that I can see to justify this drop in the sp.

Climate Exchange plc

Notice of Preliminary Results

"Climate Exchange plc, the leading global environmental exchange operator, will announce its preliminary results for the year ending 31st December 2008 on Thursday 12th March 2009."