Nymex to Launch U.S. Carbon Allowance Contract
The New York Mercantile Exchange (Nymex) will introduce a U.S. Regional Greenhouse Gas Initiative (RGGI) carbon allowance futures contract, in the third quarter of 2008, pending regulatory review.
The contract, launched as part of the Green Exchange venture, will be available via the CME Globex electronic trading platform and NYMEX ClearPort clearing.
The exchange expects the contract to be the first exchange-traded contract for compliance with a government cap-and-trade program in the U.S.
The Green Exchange offers a range of environmental futures, options and swap contracts for markets focused on solutions to climate change, renewable energy and other environmental challenges.
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