ICE to transition European Union Emission Allowance Contracts to ICE Endex in the Netherlands…

first_img Twitter Pinterest By Digital AIM Web Support – February 8, 2021 LONDON & AMSTERDAM–(BUSINESS WIRE)–Feb 8, 2021– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, announced today that it plans to transition ICE EUA Futures and Options and ICE EUA Daily Futures (collectively, “ICE EUAs”) and ICE EUAA Futures (“ICE EUAAs”) from ICE Futures Europe, ICE’s London-based exchange, to ICE Endex, ICE’s exchange in the Netherlands, during the second quarter of 2021, subject to the completion of regulatory processes. A more specific date for the transition will be announced in due course. ICE EUA and EUAA markets will continue to be cleared at ICE Clear Europe in London where they are cleared alongside ICE’s global environmental complex including California Carbon Allowances (CCAs) and California Carbon Offsets (CCOs), as well as some of the largest energy contracts in the world across oil, natural gas, power and coal, allowing those who trade to benefit from the margin offsets created by clearing alongside ICE’s global energy complex. “The decision to transition the execution of EU emission allowance contracts to the Netherlands follows close dialogue with customers over the past few months and will help those who rely on these markets to meet obligations and manage climate price risk in the most cost-effective and seamless manner”, said Stuart Williams, President of ICE Futures Europe. “Leveraging our experience in managing transitions, we will carry out this process in the smoothest possible manner for customers.” The EU Emissions Trading Scheme is a cornerstone of the EU’s policy to combat climate change. Market-based mechanisms like carbon cap and trade programs are pivotal in allowing policy makers to control the quantity of carbon to align with their net-zero commitments and put a price on emissions to reach those goals in the most cost-effective manner. EUA futures and options volume traded on ICE has increased more than 100% from 2015 to 2020. More than 12 million lots of EUA futures and options traded on ICE in 2020, equivalent to 12 billion allowances or 12 gigatonnes. ICE’s EUA contract is one part of ICE’s global environmental complex which includes futures and options connected to ICE’s California Cap and Trade, Regional Greenhouse Gas Initiative and renewable energy credits markets. Volume in the North American Environmental complex increased by approximately 30% in 2020 versus 2019. In April 2020, ICE launched the ICE Global Carbon Futures Index to track and benchmark the global price of carbon. While in December 2020, ICE was appointed to host emissions auctions as part of the launch of a UK Emissions Trading Scheme (UK ETS). ICE plans to commence auctions and launch UK spot and futures carbon allowance contracts on ICE Futures Europe no later than the second quarter of 2021, subject to regulatory approval. ICE has been a leader in environmental markets for nearly two decades. A wide and increasing group of stakeholders use the price signals from ICE’s global markets and indices to help assess climate transition risk in their portfolios, and access liquidity pools for compliance purposes, managing risk and allocating capital to benefit from energy transition opportunities. About Intercontinental Exchange Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).” Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021. Source: Intercontinental Exchange ICE-CORP View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005396/en/ CONTACT: ICE Media Contact Rebecca Mitchell +44 7951 057351 [email protected] Investor Contact Warren Gardiner 770-835-0114 [email protected] KEYWORD: EUROPE UNITED KINGDOM NETHERLANDS INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES ENVIRONMENT FINANCE SOURCE: Intercontinental Exchange Copyright Business Wire 2021. PUB: 02/08/2021 07:00 AM/DISC: 02/08/2021 07:01 AM http://www.businesswire.com/news/home/20210208005396/en Pinterest Facebook Facebook Local NewsBusinesscenter_img ICE to transition European Union Emission Allowance Contracts to ICE Endex in the Netherlands during the Second Quarter of 2021 WhatsApp Twitter WhatsApp TAGS  Previous articleLandowner Receives Right of First Refusal for Water and Gas – Landmark Surface-Use Agreement Signed for ESG GoalsNext articleHip Hop Hall of Fame Café & Museum Gallery to Open in Harlem, NYC in 2021 With Hip Hop “History” and “Activism Black Lives Matter” Exhibits – Post Covid Vaccine Digital AIM Web Supportlast_img read more

Drug Trade Threatens Costa Rica’s ‘Pura Vida’ Reputation

first_img SAN JOSE, Costa Rica — A group of 14 prisoners tried to escape May 12th from La Reforma, Costa Rica’s largest prison. The attempted jailbreak was led by Nicaraguan inmate Erlyn Hurtado, who in 2005 was involved in one of the nation’s bloodiest massacres, and Johel Araya, who was shot six times in an escape attempt from the same prison in 2006. The escape attempt began when Hurtado opened his jail cell using a set of the prison’s master keys and held guards hostage with a .380 pistol, the Judicial Investigation Police (OIJ) said. Hurtado then opened Araya’s cell and freed another 20 to 30 more inmates. They used smoke bombs, fake grenades, radios and cellphones to corral 15 hostages — mostly prison guards — and demanded an escape vehicle. After a three-hour standoff, Costa Rican police intervened to thwart the escape attempt. Hurtado, a fellow prisoner and a prison guard were killed in the ensuing shootout. Just outside the prison gates, authorities found a vacant Dodge van stocked with AK-47s, ski masks, bulletproof vests, $2,000 in cash, food, bottles of water and homemade explosives. Despite round-the-clock surveillance and strict regulations against unauthorized parking, the Dodge had been on the property for four days. “With the information we have obtained about the escape thus far in our investigation, it appears the criminals were operating under the assistance of someone working within the prison system,” said OIJ Director Jorge Rojas. “Our investigation will be aimed at determining who was responsible for assisting the prisoners in the escape.” Last week, Rojas and Security Minister Mario Zamora said the escape attempt might be linked to drug traffickers. “What we do know is that someone in the prison administration must have had strong connections and a motive for assisting the prisoners with the keys,” said Zamora. “Drug cartels are very wealthy and powerful, which often results in corruption.” Three Mexican prisoners jailed in La Reforma were linked to international drug organizations at the time of their arrest in Costa Rica, OIJ said. Cartels in Costa Rica Over the past few years, Costa Rican security forces, including the OIJ and the Drug Control Police (known by its Spanish initials PCD), have locked up several high-profile criminals tied to Mexican drug cartels. In March, three Mexicans linked to the infamous Sinaloa cartel were detained at a residence in Cartago, east of San José. The men were in possession of 319 kilograms of cocaine valued at $12.7 million. They had been in and out of Costa Rica several times since 2007, and were being closely monitored by the OIJ. Two other men with suspected links to the Sinaloa cartel were arrested in February. In May 2007, the OIJ conducted a raid known as “Operation Aztec” on a house in the western San José neighborhood of Rohrmoser. Seven Mexicans and one Colombian were arrested while remodeling the house as a cocaine storage facility for the Sinaloa cartel. A month earlier, the PCD raided a home in Tejar del Guarco, east of San José, and arrested two Mexicans in possession of 300 kilograms of cocaine and money in multiple currencies. Mauricio Boraschi, director of the PCD, said earlier this month that Costa Rica acts as a bridge. “The drugs have to be transported either by air, land or sea. Transportation is typically organized by Mexican organizations and has to move north through Central America,” he said. “To do so, Mexican organizations typically move drugs north by sea or air, as ground transportation is the easiest to monitor. When drugs are moved north via the sea, Central American ports are used.” Costa Rica’s Public Security Ministry said police last year seized 9,900 kilograms of cocaine, the second-highest quantity in history, exceeded only by 2008 figures. The ministry also reported that 101 drug organizations were dismantled in 2010, a record high. From 2006 to 2010, 400 drug organizations were broken up, including 347 local groups and 53 international ones. Chinchilla: Much more must be done On May 4, four days shy of her one-year anniversary, President Laura Chinchilla told lawmakers what her government was doing to improve security for the country’s 3.5 million citizens. During her 90-minute speech, she mentioned “narcotrafficking” seven times. “Today I am here to confirm the vision that is shared by everyone in the country: to make Costa Rica a more secure home for all of its residents,” she said. “To achieve that goal, we will do so by following one route: the route of human security. Never before has the word ‘insecurity’ defined so many of our lives.” While Chinchilla boasted of her administration’s accomplishments in combating the drug trade, she warned that “we observe with alarm the relentless advance of organized crime and drug-trafficking threatening our democracy with potential corruption and extortion, as well as violence and delinquency.” Most security officials agree that if Costa Rica intends to confront the drug traffickers, more help is needed — and fast. At present, the government has only one helicopter, and most of the Costa Rican Coast Guard’s patrol vessels are aged and incapable of pursuing high-speed boats in open waters. People in rural towns throughout the country complain of a lack of police and security. Many towns with populations ranging from 1,000 to 5,000 have police forces of two, three or five officers that are required to patrol areas of several hundred squares kilometers of land and sea. Costa Rica’s former security minister, José María Tijerino, said in his final address that “the state of the forces in certain parts of the country is deplorable.” PCD’s Boraschi agreed. “It is evident that the drug cartels are very powerful and can infiltrate places we used to consider untouchable, Boraschi said. “If we plan to keep drugs out of our country, it will require significant investment by our government. We need more police, we need better equipment and we need international assistance. If we don’t begin to put these pieces in place soon, the face of this country could soon be altered by drug-trafficking.” By Dialogo May 27, 2011last_img read more

Moyes pay-off ‘in single digits’

first_img United executive vice-chairman Ed Woodward also said an announcement on a new manager would be made “in due course” – it is understood the expected appointment of Dutch coach Louis van Gaal will not take place before next week. Woodward said in a conference call to club investors that the cost to United of not playing in the Champions League next season would be “in the mid-£30millions” and that there was a determination to return to Europe’s top club competition. Manchester United’s pay-off for David Moyes will be “single-digit millions” it has emerged, as club chiefs promised major investments on new transfers to ensure a return to the Champions League. Woodward said finishing seventh in the Premier League had been “very disappointing” and suggested missing out on Europe had led to the sacking of Moyes last month. He said: “The club’s expectations – and you will see this reflected in the transfer market and what we have recently done from a managerial perspective – are absolutely to get back into the Champions League. “We will be active in the transfer market and deals will be done.” In relation to the pay-off to Moyes and his backroom staff who also left the club, investors were told the figure would be revealed in September and it was expected “to be single-digit million pounds”. Woodward said record revenues for the third quarter of the financial year puts United in a good position to invest in the squad and challenge for the title next season. United reported revenues of £115.5million for the quarter, up 26 per cent, mainly due to rises in income from Premier League broadcasting money and sponsorship deals. “We once again generated record revenue,” added Woodward. “This puts us in a healthy financial position to continue to invest in the squad. Everyone at the club is working hard to ensure the team is back challenging for the title and trophies next season.” The players’ wage bill was also up however by 18.9 per cent, reflecting the arrivals of Juan Mata and Marouane Fellaini plus new deals for Nani and Adnan Januzaj. Wayne Rooney also signed a new deal during the current financial year but it is understood that is for the same level as his previous contract – around £230,000 a week – but he earns more from a separate image rights contract which is not reflected in United’s staff costs. Sponsorship income rose 43.5 per cent while United’s overall debt is down 4.3 per cent at £351.7million, while the cost of servicing that debt also fell – there was a £2.8million reduction in interest payable following refinancing in June last year. Broadcasting revenue for the third quarter was £35.6million, an increase of £13.9million, or 64.1 per cent, due to increased revenue from the Premier League. Woodward said the increase from the Premier League would soften the financial impact of missing out on Europe. He said: “Due to relatively high broadcasting revenues we estimate that the isolated impact for not qualifying for European football will be in the mid £30millions of pounds which includes a 15 per cent reduction in the price of executive facilities next year.” The club and 62-year-old Van Gaal, currently coach of Holland, are understood to have reached a broad agreement but no deal has yet been signed. Van Gaal is busy with preparations for Holland’s friendly against Ecuador at the Amsterdam ArenA on Saturday, and sources close to the club have ruled out any announcement taking place either side of that fixture. United’s interim manager Ryan Giggs was photographed leaving a hotel in the Dutch town of Noordwijk on Wednesday, where it is understood the 40-year-old had a meeting with Van Gaal. Giggs’ playing contract expires in June and he is expected to be offered a senior coaching role, though it is not known whether he intends to keep playing next season. Press Associationlast_img read more

Bob Okezie: Another ‘Foreign’ Addition to Golden Eaglets?

first_imgThe NFF boss convinced Chelsea prodigy Adrian Akande to commit his international future to Nigeria over England and was named in the recently concluded Africa U17 Cup of Nations in Tanzania alongside two other ‘foreigners’-Joseph Olawabuola –Bournemouth of England and Lateef Omidiji jr-Go Ahead Eagles of Spain.Now another ‘foreigner’-Okezie is in the book ahead of the FIFA U17 Competition slated for Brazil.Born in Potsdam, Okezie started his football career at the age of six at Fortuna Babelsberg, where he spent six years before transferring to SV Babelsberg 03, then joined his current club in 2018.According to the attacker’s dad Chief Nweke, Bob has visited Nigeria so often where he learnt the words “quacking”, “shoot heavily” and “control your ball”, etc.In 2015, his club SV Babelsberg 03 won the Brandenburg State Junior League (state junior championship) and the Nigerian whizkid won the golden boot. He is currently the top striker at FC Viktoria 1889 Berlin U17 team and the fourth highest goalscorer in the Nordost regional league in Germany.Asked if the 17-year-old Vikotoria Berlin star will like to play for Nigeria’s Golden Eaglets, the father, Chief Nweke, replied: “Of course, if Nigeria needs him, Bobby will play. I will like him to join Manu Garba Boys.”Bob is currently the top striker in his third club Vikotoria Berlin 1889 U17 and the fourth highest goal scorer in Nord ost (North East) U17 regional league in Germany. He joined the club in the middle of last season from SV Babelsberg 03 before the end of transfer window. He wears the No 9 shirt for his club and has scored more than 14 goals in his career.It is on record that Nigeria won the maiden edition of the U17 Tournament with mainly players from the school system and were finalist two years later with the same school system.The concern of many observers is with countless academies that surround us and the revival of the Principals Cup by GTBank the football authority can still not get 23 home-grown players that will represent us in an U17 competition without depending on foreign players.In a chat with THISDAY, former Nigerian international and captain of defunct Abiola Babes of Abeokuta, Tajudeen Disu expressed  sadness that the federation now look outside the shores of the country for players for an U17 competition, while attributing it to lazy administrators running Nigeria’s football and warned that until the country returns to the basics things would continue to get worse.“The situation is like this because most of our football administrators are lazy and will therefore always look out for the short cut. When we qualified Nigeria for the U21 World Cup for the first time in 1983 virtually all of us were secondary school student or just leaving school,” Disu noted. The former Abiola Babes Captain blamed the politicising of the country’s football as being responsible for the situation we are in.“Until we stand putting the right people in the right position the situation will remain the same. The idea of winning at all cost must also be discountenance; the primary objective is to expose the boys at that age and not compulsorily winning. By bringing in foreign players from abroad to play U17 competitions you are indirectly killing the youth system in the country,” he expressed.Disu also berated the federation for not wanting to have former players who are educated as administrators and coaches as they would prefer people they can toss around.“Most of those running our football federation are also agents and they have boys to sell, that is why they would prefer coaches they can toss around to achieve their aim,” he noted.Nigeria placed fourth in the recently concluded U17 AFCON in spite of parading three foreign-based players.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram FC Viktoria 1889 Berlin wonderkid Bob Okezie has committed his international future to Nigeria ahead of his country of birth, Germany, and has made himself available for selection to the Golden Eaglets ahead of the 2019 FIFA U17 World Cup. Kunle Adewale asks if depending on players of Nigerian descents for U17 competitions is not retrogressive to the country’s football inspite of the numerous football academies that surround us and indeed the yearly Principals Cup Each time the Nigeria Football Federation eggheads successfully lobby a player of Nigeria descent to play for his fatherland, something the NFF president, Amaju Pinnick described as VIP Scouting, the federation sees as a master stroke since the home league cannot even be compared to the Principals Cup of the ’70’s and ‘80’s and therefore cannot produce quality players for the senior national team.What is however more disturbing is the new trend of having players of Nigerian decent to player for the Golden Eaglets, a team that has four U17 World Cups under its belt with only Brazil coming closest with three wins?last_img read more

Niasse Nabs FA Charge For Alleged Simulation

first_imgEverton striker Oumar Niasse could become the first Premier League player to be banned for “successful deception of a match official” after he was charged by the English Football Association (FA).Niasse won a controversial penalty under minimal contact from Crystal Palace defender Scott Dann during Saturday’s 2-2 draw at Selhurst Park. Leighton Baines went on to score the penalty for the Toffees.The Senegal international was also on the scoresheet for Everton as he rescued a point for his team with their 2nd equaliser on the stroke of halftime and he has until 18:00 GMT later today to respond.According to the new laws introduced in May, players could be charged after a game for simulation.An FA statement read: “Incidents which suggest a match official has been deceived by an act of simulation are referred to a panel consisting of one ex-match official, one ex-manager and one ex-player.“Each panel member will be asked to review all available video footage independently of one another to determine whether they consider it was an offence of ‘Successful Deception of a Match Official’.“Only in circumstances where the panel are unanimous would the FA issue a charge.” the statement added. RelatedLanzini Given Two-Game Ban For DivingDecember 20, 2017In “England”Mo Salah to miss Arsenal and Manchester City clashesDecember 27, 2018In “England”Watford Forward Cleared Of Simulation During Arsenal GameOctober 17, 2017In “England”last_img read more