The Green Exchange was launched with bells and whistles a few months back. Last week the exchange traded for the first time and activity and volume it surpassed all expectations.
The Green Exchange is part of the New York Mercantile Exchange (NYMEX). During its first week, the equivalent of 1.59 million tons of carbon was traded. That volume makes the Green Exchange “the most successful launch of exchange-traded carbon contracts,” according to a report in the SunHerald.
Contracts traded included European Union carbon allowances futures (EUAs), of which one contract equals 1,000 tons of CO2. Certified Emissions Reductions (CERs), also equaling 1,000 tons of CO2, are also traded. Other contracts traded include SO2 (sulfur dioxide) allowances and NOx (nitrogen oxide) allowances.
The Green Exchange aims to compete mainly with the Chicago Climate Exchange (CCE). Created in 2003, the CCE trades carbon on behalf of 300 companies, including American Electric Power, Ford Motor Co., International Paper, Manitoba Hydro Corp., Motorola Inc., STMicroelectronics.
The Green Exchange’s products are not new inventions but have been traded in Europe and on the Chicago Climate Exchange and its climate spin off, the Chicago Climate Futures Exchange (CCFE) for a number of years already.
The institutions involved in the Green Exchange’s launch are the most likely ones to have participated in last week’s trading. They are Evolution Markets, Morgan Stanley, Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment, Constellation Energy, Vitol SA and RNK Capital.
On an international level, Europeans are far in the lead in terms of environmental exchange based trading. Last year, $62 billion (E40 billion) worth of carbon credits were traded in on the European Climate Exchange (launched in 2005 by CCX), which was a massive hike of 80% compared to the year before. The ECX operates in the European Union Emissions Trading Scheme.
Carbon trading is a vast market but all the participating companies are doing so voluntarily. If you want to get a good insight into who is doing what, check out this EcoSystemMarketplace study into the voluntary carbon trading market place.
The Green Exchange is part of the New York Mercantile Exchange (NYMEX). During its first week, the equivalent of 1.59 million tons of carbon was traded. That volume makes the Green Exchange “the most successful launch of exchange-traded carbon contracts,” according to a report in the SunHerald.
Contracts traded included European Union carbon allowances futures (EUAs), of which one contract equals 1,000 tons of CO2. Certified Emissions Reductions (CERs), also equaling 1,000 tons of CO2, are also traded. Other contracts traded include SO2 (sulfur dioxide) allowances and NOx (nitrogen oxide) allowances.
The Green Exchange aims to compete mainly with the Chicago Climate Exchange (CCE). Created in 2003, the CCE trades carbon on behalf of 300 companies, including American Electric Power, Ford Motor Co., International Paper, Manitoba Hydro Corp., Motorola Inc., STMicroelectronics.
The Green Exchange’s products are not new inventions but have been traded in Europe and on the Chicago Climate Exchange and its climate spin off, the Chicago Climate Futures Exchange (CCFE) for a number of years already.
The institutions involved in the Green Exchange’s launch are the most likely ones to have participated in last week’s trading. They are Evolution Markets, Morgan Stanley, Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment, Constellation Energy, Vitol SA and RNK Capital.
On an international level, Europeans are far in the lead in terms of environmental exchange based trading. Last year, $62 billion (E40 billion) worth of carbon credits were traded in on the European Climate Exchange (launched in 2005 by CCX), which was a massive hike of 80% compared to the year before. The ECX operates in the European Union Emissions Trading Scheme.
Carbon trading is a vast market but all the participating companies are doing so voluntarily. If you want to get a good insight into who is doing what, check out this EcoSystemMarketplace study into the voluntary carbon trading market place.
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