The ICE daily CER continued to trade as a political option with notional pricing, gaining one Eurocent to 0.15 EURO (+7.14%). Actual volume is trading beneath this price and ERUs are trading at less than 50% of this price. Exchange listed prices are nothing more than advertisements or wishful thinking by ambitious traders trying to convince speculators that there is something happening. There is little to no volume demand at these levels. Only a political decision to address massive oversupply can turn things around. Too many ERUs and CERs have been issued already for there to be any meaningful supply/demand intersection, and more are printed every month, the market is swamped.