The New York Mercantile Exchange, Inc. (NYMEX) announced that it is launching a new exchange that will offer a range of environmental futures, options, and swaps contracts for markets focused on climate change, renewable energy, and air pollutant emissions. The Green Exchange is a joint venture with Evolution Markets Inc., Morgan Stanley Capital Group Inc., Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment Corp., ICAP and Constellation Energy.
The first slate of futures and options contracts will be introduced on March 16 for trading on March 17. The initial contracts will be European Union Allowance (EUA) futures and options; Certified Emission Reduction (CER) futures; seasonal nitrogen oxide emission allowance contracts; annual nitrogen oxide allowance futures; and sulfur dioxide emission allowance options contracts.
The Green Exchange intends to eventually offer trading in verified greenhouse gas emission reductions (VERs/VCUs) used in accordance with voluntary carbon standards as well as contracts for national Green-e certified voluntary renewable energy certificates (RECs).
News Release - NYMEX to Launch First Contracts in Green Exchange Initiative (February 25, 2008)
News Release - NYMEX and Other Major Market Participants to Form The Green Exchange, The World's Most Comprehensive Environmental Marketplace (December 12, 2007)