Green Exchange will expand its emissions contract base as Icap has joined the group of founding member firms, further stepping up competition with other emissions markets.
The exchange will launch options on certified emission reduction (CER) on April21. The new CER options contract, which will be traded on the floor of New York Mercantile Exchange (Nymex), is part of a larger rollout of new carbon contracts for Green Exchange.
Thomas Holleran, vice president of marketing at Nymex, said in a speech that it is also developing new carbon contracts based on voluntary emission reductions (VERs), Renewable Energy Certificates (RECs) and carbon contracts based on the Northeast’s cap-and-trade market called the Regional Greenhouse...