in News Departments > New & Noteworthy
print the content item

NYMEX Holdings, the parent company of the New York Mercantile Exchange, has formed The Green Exchange venture with Evolution Markets, Morgan Stanley Capital Group, Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment Corp., ICAP and Constellation Energy.

The new exchange will offer a comprehensive range of environmental futures and options and will swap contracts for markets focused on solutions to climate change, renewable energy and other environmental challenges.

The Green Exchange products are expected to begin trading during the first quarter of 2008 and will be cleared by NYMEX. The Green Exchange venture is expected to launch as a U.S. Commodity Futures Trading Commission-regulated exchange during the first quarter of 2009, pending regulatory approval.

Initially, The Green Exchange intends to offer trading in global carbon-based contracts, such as carbon allowances under the European Union Emissions Trading Scheme, carbon credits under the U.N. Clean Development Mechanism and verified greenhouse gas emission reductions used in accordance with voluntary carbon standards. The Green Exchange will also offer contracts for U.S. SO2 and NOx emissions allowance trading programs, as well as contracts for national Green-e voluntary renewable energy certificates.

Products will be listed for trading on the CME Globex electronic trading platform and for clearing on the NYMEX ClearPort platform. All contracts will be cleared through the NYMEX clearinghouse as regulated futures contracts.

The Green Exchange venture intends to offset all of its electricity use with Green-e certified renewable energy credits and intends to offset its remaining non-power-related carbon emissions through the purchase of voluntary carbon credits, making the exchange fully carbon neutral.



Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965