Environmental Leader

The New York Mercantile Exchange and Evolution Markets opened The Green Exchange yesterday with futures trading based on emissions, including one linked to the ongoing European carbon market, Reuters reports.

The first four contracts on the Green Exchange are the Europe-based EUA, and certified emission reduction (CER) futures, and U.S.-based nitrogen oxide (NOX) emission allowances, and sulfur dioxide (SO2) emission allowances.

There are nine separate contracts for NOX trading. They are five for seasonal allowances, for 2008, 2009, 2010, 2011, and 2012, and four for annual allowances for 2009, 2010, 2011 and 2012.

Within a few months contracts will include renewable energy credits and voluntary carbon credits.

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