NYMEX and Evolution Markets, a New York-based environmental products and energy brokerage, formed the Green Exchange late last year.
NEW YORK (Reuters) - The New York Mercantile Exchange said on Monday it will launch on March 17 the first slate of futures and options contracts for credits representing reductions in greenhouse gases and other pollutants as part of its Green Exchange initiative.
NYMEX and Evolution Markets, a New York-based environmental products and energy brokerage, formed the Green Exchange late last year.
The venture will initially offer futures and options on carbon credits traded under the Kyoto Protocol on global warming, including European Union Allowances which allow greenhouse trade between developed countries that ratified the pact.
It will also offer futures on Certified Emissions Reductions, which represent greenhouse gas reductions brought about by investments from rich countries in clean energy projects in developing countries, such as wind and solar power farms.
!ADVERTISEMENT!The futures contracts will be available for trading on the CME Globex electronic trading platform, the options contracts will be available for trading on the NYMEX trading floor, and all contracts will be available for clearing on the NYMEX ClearPort, NYMEX said in a release.
The EUA and CER futures contracts will be physically delivered at the UK Emissions Trading Registry, it said.
The Green Exchange said last year it will eventually offer products in voluntary greenhouse gas trade.
(Reporting by Timothy Gardner, editing by Jim Marshall)
