Washington State’s Second WCA Auction Results

Jun 7, 2023 | Blog

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