European carbon markets have been in the news recently, though not always for the best reasons. In January, much activity in the €90 billion ($122 billion) carbon market was frozen temporarily because of computer hacking.

Traders, who say the markets are rich with opportunity, volatility and a growing turnover, were frustrated when the European Commission halted trading by suspending all 30 of the national registries for emissions permits.

The permits, which are traded, put a price on industrial