Environmental markets are growing rapidly and broadly as the global community rises to the challenges posed by climate change. These fundamental changes create a continuous need for effective and innovative financial tools to meet the diverse needs of a broad range of participants for these developing markets, including consumers, industrial firms, project developers and investors. To meet this growing challenge, thirteen of the world’s most innovative and powerful financial institutions have come together to form the Green Exchange.
The Green Exchange is comprised of a diverse group of industry leaders that share a common goal and bring together deep expertise and vast experience in environmental markets. The owners of the Green Exchange's holding company, Green Exchange Holdings LLC, are: Constellation NewEnergy, Credit Suisse Energy, Evolution Markets, Goldman Sachs, ICAP Energy, J.P. Morgan Ventures Energy, Morgan Stanley Capital Group, RNK Capital, Spectron Energy, TFS Energy, Tudor Investment, Vitol and CME Group, the world’s largest and most diverse derivatives marketplace. In March 2008, NYMEX, now part of CME Group, expanded its existing suite of environmental futures and options contracts to meet the growing needs of the industry by listing a more comprehensive range of futures and options contracts to enable all market sectors to manage their risks and implement their investment strategies. These products are based on commonly traded instruments in the European and U.S. markets: European Union carbon allowances (EUA), U.N.-certified carbon offsets (CER), U.S. Regional Greenhouse Gas Initiative carbon allowances (RGGI) U.S. emissions allowances (SO2, NOx) and Climate Action Reserve CLIMATE RESERVE TONNES™ (CRT™). On July, 23 2010, the U.S. Commodity Future Trading Commission (CFTC) approved the Green Exchange as a designated contract market (DCM). Contracts on emissions allowances and credits in CO2, NOX, and SO2 will continue to be listed for trading and clearing by NYMEX until they are transferred to the Green Exchange. Throughout the transfer process, the Green Exchange will continue to develop additional products for launch in an effort to focus on the needs of evolving regional, national, and international markets, including the U.S. compliance market. Futures are available on CME Globex and through CME ClearPort. Options are available through CME ClearPort and on the New York trading floor. All transactions benefit from the safeguards and standards provided by CME Group's respected and well-established clearinghouse.
The Green Exchange provides trading and clearing for Emissions allowances and credits in CO2, NOx, and SO2. NYMEX Futures are available on CME Globex and through CME ClearPort. NYMEX Options are available through CME ClearPort and on the New York trading floor. All transactions executed through the Green Exchange benefit from the safeguards and standards provided by CME Clearing.
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