how popular will these be?...comments my way https://www.theice.com/publicdocs/circulars/10066.pdf
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Mathew Carr, emissions markets, energy reporter. London Bloomberg News ph +44 207 073 3531 yahoo ID carr_mathew
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ICE Will Offer Emission Reduction Unit Futures Starting Nov. 8
2010-10-11 11:32:31.335 GMT
By Mathew Carr
Oct. 11 (Bloomberg) -- Intercontinental Exchange Inc. will
offer Emission Reduction Unit futures and options contracts
starting Nov. 8, the first time an exchange has offered trade
under the Joint Implementation program of the 1997 Kyoto
Protocol.
That mechanism is the second-biggest greenhouse-gas
offsetting program overseen by the United Nations. It has about
10 million metric tons of issued credits, compared with 442.3
million tons issued under the Clean Development Mechanism,
according to Bloomberg data. Credits from both programs can be
used in the European Union carbon dioxide system, the world's
largest greenhouse gas market.
Offering ERUs on ICE's European Climate Exchange in London
is "the missing piece of the jigsaw," said David Peniket,
president of ICE Futures Europe. The contracts follow requests
from customers, he said in a phone interview. "The market is
now ready for this."
The ECX is the biggest exchange for emissions trading. The
ERU credits, mostly from eastern European emission-reduction
projects, are being purchased by industrial companies that swap
them for more-valuable EU carbon allowances.
For Related News and Information:
EU emissions-trading stories TNI ENVMARKET EU <GO>
Today's top environment news GREEN <GO>
--Editors: Rob Verdonck, Jonas Bergman
To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
