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The Green Exchange™ today announced that ICAP Energy LLC 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, 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 a natural complement to our position as a world leader in carbon emissions trading," 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 the financial services industry, and we look forward to working with the Green Exchange 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 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.
About The Green Exchange
The Green Exchange initiative was introduced by the NYMEX Holdings, with Evolution Markets, 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. For further information about The Green Exchange, please visit http://www.greenfutures.com/.
About ICAP
ICAP Energy LLC, a subsidiary of ICAP, the world's premier voice and electronic interdealer broker and the source of global market information and commentary for professionals in the international financial markets. The Group is active in the wholesale markets in interest rates, credit, energy, foreign exchange and equity derivatives. ICAP has an average daily transaction volume in excess of $1.5 trillion, more than 60% of which is electronic. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to http://www.icap.com/.
