The Green ExchangeTMtoday announced that ICAP Energy LLC has agreed to work toward building TheGreen 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, Goldman Sachs, JPMorgan, Merrill Lynch,Tudor Investment, Constellation Energy, Vitol, and RNK Capital.
"Becoming a founding member of The Green Exchange is an honor for us, and anatural complement to our position as a world leader in carbon emissionstrading," said Douglas Rhoten, chief executive officer of ICAP Americas." ICAP is at the forefront in providing a suite of innovative,environmentally-focused products and services in this evolving segment of thefinancial services industry, and we look forward to working with the GreenExchange and its members in developing these markets further."
The new exchange will offer a comprehensive range of environmental futures,options and swap contracts for markets focused on solutions to climatechange, renewable energy and other environmental challenges. The first slateof 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.
