In four sessions, CER volumes touch 6.2 lakh, three times more than expected. Trade mechanism does not allow global firms to buy CERs directly from domestic cos. Priyanka Vyas New Delhi, April 18 One week since certified emission reduction (CERs) began to be traded on the National Commodity & Derivative Exchange Ltd (NCDEX), it has overshot its target. In the first four trading sessions it has been able to garner Rs 15-20 crore on a daily basis. This is three-four times the trading volume the exchange had anticipated. However, industry players are not impressed with the volumes and are looking for certain clarifications. "In four sessions, the volume of CERs traded on NCDEX has touched 6.2 lakh, which translates into Rs 15-20 crore of trading volumes on a daily basis. This is three times more than the volume we expected at Rs 3-5 crore daily,' said Mr N.S. Rathore, Vice-President, NCDEX. The price of CERs on the NCDEX on Thursday was around Rs 1,038.60 for December 2008 contracts as against Rs 1,030.89 on the spot market. "Within days since the trading started, the price on the Indian exchange is equivalent or higher than the price being traded on the international exchanges,' said Mr Rathore. However, several companies into carbon trading are still unclear on the physical delivery mechanism of CERs being traded on the NCDEX. While the prices are lucrative, players are concerned about the fact that the mechanism