RGGI futures competition hots up

With the start of Regional Greenhouse Gas Initiative (RGGI), the first mandatory cap-and-trade carbon scheme in the US, looming in January 2009, the Chicago Climate Futures Exchange (CCFE) and the New York Mercantile Exchange (Nymex) Green Exchange have both launched RGGI futures contracts ahead of the first carbon credit auction on September 25 this year.

RGGI futures trading on the CCFE began on August 15, with Green Exchange trading launched on August 25. According to the CCFE, 161 contracts w