.jpg)
Green Exchange (“GreenX”) today announced that Citigroup, Cunningham Commodities, Dorman Trading, Macquarie Bank, Mizuho Securities USA and Prudential Bache Commodities, LLC will provide clearing services for customers of GreenX as of the trade date of January 24, 2011 when the suite of GreenX-associated environmental products currently listed on New York Mercantile Exchange, Inc. (“NYMEX”) migrates to the GreenX Designated Contract Market (DCM). The six additional clearing members have been approved by CME Clearing and will offer derivatives clearing services to GreenX’s international customer base. The new GreenX Clearing Members will assume full financial and performance responsibility for all transactions guaranteed by and executed through them on GreenX.
These new clearing entities join the existing GreenX clearing member firms: BNP Paribas Commodity Futures Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., J.P. Morgan Futures Inc., MF Global Inc., Morgan Stanley & Co. Inc., Newedge USA LLC and RBC Capital Markets. This brings the number of GreenX clearing member firms to fourteen in total.
Tom Lewis, Chief Executive of GreenX, commented: “The recent approval of six additional Clearing Members further highlights the growing demand for a global solution for environmental commodities. As we near the migration of GreenX contracts from the NYMEX DCM to our own, we are working with our customers located in the United States and Europe to ensure that their Clearing Members are prepared to provide critical clearing and settlement functions for our products. We are delighted that Citigroup, Cunningham Commodities, Dorman Trading, Macquarie Bank, Mizuho Securities USA and Prudential Bache Commodities, LLC have decided to provide third-party clearing services and look forward to the addition of several more clearing firms in the near future.”
All CME/CBOT/NYMEX/COMEX Clearing Members are eligible to become GreenX Clearing Members.
