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ICE Adds 21 Emissions Contracts to Replace Futures Exchange

Intercontinental Exchange has announced plans to launch 21 over-the-counter North American emissions contracts.

The announcement follows on the heels of news that ICE will shut its emissions derivatives trading platform, Chicago Climate Futures Exchange, by the end of Q1 2012.

The new contracts will mirror products to be lost when the futures exchange closes, the Wall Street Journal reported. New products include derivatives linked to emissions reductions plans in California, Massachusetts, New Jersey and Connecticut, ICE said.

All of the new forward contracts will be available for the trade date of Monday, August 29, 2011, and options will be available Monday, September 19, 2011, ICE said.

With the products announced yesterday, ICE will offer more than 550 cleared OTC energy contracts.

The new contracts are:

  • Climate Action Reserve Forward
  • Climate Action Reserve Forward Options
  • Carbon Financial Instrument, United States, Forward
  • Carbon Financial Instrument United States, Forward Options
  • Connecticut Compliance Renewable Energy Certificates Class 1 Forward
  • Massachusetts Compliance Renewable Energy Certificates Class 1 Forward
  • New Jersey Compliance Renewable Energy Certificates Class 1 Forward
  • Regional Greenhouse Gas Initiative Forward
  • Regional Greenhouse Gas Initiative Forward Options
  • Sulfur Financial Instrument Forward
  • Sulfur Financial Instrument Forward Options
  • Cross State Air Pollution Rule TR SO2 Group 1 Allowance Forward
  • Cross State Air Pollution Rule TR SO2 Group 1 Allowance Forward Options
  • Cross State Air Pollution Rule TR SO2 Group 2 Allowance Forward
  • Cross State Air Pollution Rule TR SO2 Group 2 Allowance Forward Options
  • Cross State Air Pollution Rule TR NOx Annual Allowance Forward
  • Cross State Air Pollution Rule TR NOx Annual Allowance Forward Options
  • Cross State Air Pollution Rule TR NOx Ozone Season Allowance Forward
  • Cross State Air Pollution Rule TR NOx Ozone Season Allowance Forward Options
  • California Carbon Allowance Forward
  • California Carbon Allowance Forward Options

More information on the new contracts is here (pdf).

In late 2010, ICE announced that it would end the country’s only voluntary allowance-based carbon market, the Chicago Climate Exchange (CCX), continuing the CCX as an offset registry only.

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