Jan. 31 (Bloomberg) -- Green Exchange Holdings LLC plans to offer carbon-dioxide futures contracts for California’s cap-and-trade program, said Thomas Lewis, the chief executive officer of the trading hub.
“We’re writing contracts as we speak to issue in the California market,” Lewis said today at a conference in Washington on carbon markets hosted by the Commodity Futures Trading Commission.
Green Exchange has been working on California carbon contracts for “quite some time” and trading may begin as early as the U.S. summer, Henrik Hasselknippe, the company’s managing director of global product development, said in an interview today in Washington.
California’s air resources board last month approved a cap-and-trade regulation to curb carbon dioxide and other greenhouse gases from power plants, refineries, factories, cars and trucks. Companies regulated by the program, which starts next year, would buy and sell a declining number of carbon dioxide allowances.
Green Exchange, a New York-based trading hub for pollution rights, counts among its owners CME Group Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co.
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