Washington’s Cap-and-Invest Program published its second WCA auction results today, where just all 11 million WCAs were sold. See our auction wrap-up below:
You can find the full results HERE.
A total of 54 qualified bidders participated.
Today’s results follow the first auction in February, which sold 6.2 million vintage 2023 allowances at a settlement price of $48.50/mt.
IncubEx worked with Nodal to launch the first WCA futures in December 2022 and WCA options contracts in January on Nodal.
WCAs on Nodal
- Open interest of 1,600+ WCA contracts, including options
Other benefits to WCAs on Nodal include:
- Initial margin is about half on Nodal vs ICE ($4,100 vs. $7,700)
- Spread margin is 5% on Nodal vs ICE ($700 vs $15,400)
- Nodal lists the advanced auction vintages (v2024-2026)
- Nodal lists WCA options
- Nodal transaction fees are lower for Trades, Blocks and Delivery
For more information on the WCA contracts please contact Steve McComb at stephen.mccomb@theincubex.com or Nathan Clark at nathan.clark@theincubex.com.
Thank you for your continued support of environmental markets offered on Nodal Exchange.
Your IncubEx Team