Green Exchange will start offering futures contracts for Californian carbon allowances from Sept. 11, Bloomberg reports. The New York-based emissions exchange will list California futures contracts for delivery in December in 2012, 2013 and 2014.
The transactions will be cleared through CME Clearing, adds Commodities Now Online. Green Exchange is owned by a consortium that includes CME Group, which manages the New York Mercantile Exchange. Green Exchange is the second-largest carbon exchange after London’s ICE Futures Europe.