MPI 06/25/97
Cantor Environmental Brokerage
One World Trade Center, New York, NY 10048 * Phone (212) 938-4250; 1-800-228-2955
* Fax (212) 938-4252
SO2 Allowance Price Indications
View Market Price
Index Guidlines
CANTOR FITZGERALD MARKET PRICE INDEX: . . . $89.52
(Call 212 938-4250 for description)
|
Bids |
Offers |
Trades |
MPI |
| Price/Volume |
1,500 @ |
$86.50
======== |
1,500 @ |
$89.75
======== |
Not Listed
============ |
|
| Weighted Average |
|
$86.50 |
|
$89.75 |
$92.31 |
$89.52 |
|
* Bid and offer for vintage 1997 allowances.
Immediate Settlement:
|
Period of Stream |
Best Prices ($/Allowance) |
Maximum Volume |
|
| Term |
Start |
|
End |
Bid to Buy |
Offer to Sell |
Bid |
Offered |
|
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
1 year
5 year
15 Years |
1997
1997
1997
1998
1999
2000
2001
2002
2003
2004
2003
2010 |
through
through |
2006
2024 |
$86.50
$86.00
$85.60
$85.40
$85.20
$84.80
$84.40
$84.00
$83.60
$83.15
$84.50 |
$89.75
$80.00 |
10,000
5,000
10,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
4,000 |
5,000
500 |
Allowances
Allowances
Allowances
Allowances
Allowances
Allowances
Allowances
Allowances
Allowances
Allowances
Allowances/yr
Allowances/yr |
|
Options:
|
Bid/Offer |
Type |
Vintage |
Expiration |
Strike Price |
Premium |
1)
2) |
Offer
Bid |
Call
Call |
1997
1998-05 |
11/28/97
negotiable |
$103.00
negotiable |
$1.75
negotiable |
Swaps:
| Swap Ratio’s against vintage 1997 allowances |
| |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
'07-09 |
'10-24 |
|
| Bid |
0.50% |
|
1.00% |
1.00% |
1.25% |
|
|
|
|
|
|
|
| Offer |
1.00% |
1.25% |
1.50% |
2.00% |
2.50% |
3.00% |
3.50% |
4.00% |
5.00% |
8.00% |
12.00% |
|
| DISCLAIMER: ALL PRICES ARE MERELY INDICATIONS OF INTEREST, DO
NOT REPRESENT FIRM BIDS AND OFFERS AND THEIR TERMS ARE SUBJECT TO
CHANGE WITHOUT NOTICE. THE ABILITY TO EFFECT TRANSFER OF ALLOWANCES
IS SUBJECT TO THE FINAL PROCEDURES GOVERNING THE TRANSFER OF ALLOWANCES
WITHIN THE ENVIRONMENTAL PROTECTION AGENCY'S ALLOWANCE TRACKING SYSTEM
AND CANTOR FITZGERALD'S POLICIES AND PROCEDURES IN EFFECT FROM TIME
TO TIME. |
Market Beat...
The Cantor Fitzgerald MPI moved down drastically in June to $89.52, an 8.30%
decrease from May returning all of the price gains seen earlier this year.
The May MPI is now $0.90 lower than the December 1997 MPI.
The summer doldrums have apparently set in during the last two weeks. Aggressive
buying took place once the $100 barrier was broken. Having satisfied their
immediate purchasing targets, buyers now appear willing to wait for bargains.
Other buyers are waiting (and hoping) for clarification of the potential
PM 2.5 rule in July.
Additional price decreases may be checked as the price approaches the marginal
cost of scrubbing. Many participants, though by no means all, believe the
viable trading range for the market of $85 and $100 until Phase 2.
Visit Our Web Site www.cantor.com/Cantor Environmental Brokerage/
Our site shows price indications for all of the major air emission trading
markets. We welcome your comments on how we can improve our site to better
serve your needs.
Greenhouse Gas Offsets and OPTIONS on Offsets Available
!!!
Cantor Environmental Brokerage has assembled a portfolio of high quality offsets
derived from a variety of sources. Prices range from $0.17 to $0.50
per ton of CO2 equivalent. Flexible payment terms, including Options
on offsets are available.
For details call 212-938-4250
|
Cantor Environmental Brokerage Serves All Your Air Credit Trading Needs...
In addition to brokering Title IV SO2 emission allowances, Cantor Environmental Brokerage is the leading broker of Title I air credits (NOx, SOx, VOC, CO, PM10).
In addition, we execute market assessment studies, and provide a complete
array of services needed by companies wishing to take full advantage of
their air credit market opportunities.
Cantor Fitzgerald Opens Electricity Desk...
Cantor Fitzgerald opened its Power Brokerage Services (CF-PBS) on June 9
to broke the electricity market. Initially, CF-PBS will focus on the Eastern
region, but will expand quickly. See 06/25/97 press release below for details.
06/25/97 Press Release - CANTOR FITZGERALD
ENTERS GROWING POWER BROKERING SECTOR
Cantor Environmental Brokerage Staff and Phone Numbers...
| Carlton Bartels, Managing Director |
New York |
direct phone line |
212-938-4250 |
| Josh Margolis, Senior Vice President |
San Francisco |
direct phone line |
415-296-9359 |
| Robin Langdon, Vice President |
San Francisco |
direct phone line |
415-296-9495 |
| Andrew Kruger, Vice President |
Stamford, CT |
direct phone line |
203-316-4036 |
| Nancy Weitz, Associate, Broker |
New York |
direct phone line |
212-938-4250 |
| Jude Moussa, Associate |
New York |
direct phone line |
212-938-4250 |
| Christine Grandstaff, Associate |
Los Angeles |
direct phone line |
714-597-0517 |
All Cantor Environmental Brokerage offices can be reached by calling 1-800-228-2955,
or by E-mail at Cantor Environmental Brokerage@cantor.com
Questions/Comments? E-mail Josh
Margolis
|
