London, 30 September 2009 

Today at 16:22 hours, Emission Reduction Units (ERUs) were traded on Climex in the first ever cleared spot transaction. The trade was cleared by APX ENDEX, the central counterparty of the Climex exchange. 1,000 tonnes of ERUs changed hands at a price of €11.95. 

 Vertis Environmental Finance was the seller in this transaction and STX Services was the buyer.
 
“At the moment there is only a limited volume of issued ERUs available on the market.  Vertis is proud to be able to offer ERUs as an alternative to CERs to its clients. This transaction is an important step towards increasing the liquidity of ERUs” – said Barna Barath, CEO of Vertis Environmental Finance.
 
“We are very happy with this important milestone”, Axel Posthumus, CEO of Climex, said. “Even though the volume of ERUs is expected to be lower than that of other carbon products, we aim to offer our members the full range of products and services and we are therefore satisfied we facilitated the first exchange traded ERU transaction.”

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