Deutsche Bank provides clearing for new Munich Stock Exchange carbon trading venue

Deutsche Bank's Global Transaction Banking division is pleased to announce that it has entered into a co-operation agreement with Bayerische Börse AG, the operator of the Munich Stock Exchange in Germany.

Under the agreement, the Munich Stock Exchange will offer a spot trading venue for EUAs (European Units of Allocation) and CERs (Certified Emission Reduction units) at competitive prices, with clearing, settlement and custody provided by Deutsche Bank.

This partnership between two long-established and highly respected financial institutions combines carbon trading with fast, automated clearing and settlement services, enabling efficient and secure trading in a strongly regulated environment.

Trading is planned to commence in summer 2009, subject to customary conditions.