The Green ExchangeTM today announced that Goldman, Sachs & Co. has agreed to work toward building The Green Exchange venture as a founding member.
Introduced in December 2007 by NYMEX Holdings, Inc. with Evolution Markets, the current anticipated founding member participants in The Green Exchange are Morgan Stanley, Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment, Constellation Energy, Vitol and RNK Capital.
The new exchange will offer a comprehensive range of environmental futures, options and swap contracts for markets focused on solutions to climate change, renewable energy and other environmental challenges. The first slate of environmental futures and options contracts were introduced on the New York Mercantile Exchange, Inc., the world’s largest physical commodities exchange and a subsidiary of NYMEX Holdings (NYSE: NMX), on March 17.
"We are pleased to join NYMEX and the other founding members in the development of a liquid marketplace for emissions products and to support a market-based solution to environmental challenges," said Vic Simone, managing director and global head of Principal Strategic Investments at Goldman Sachs.