The London-based International Petroleum Exchange (IPE), and the Chicago ClimateExchange last month said they will work together to provide a market for EU emissionstrading. As part of the agreement, CCX will grant IPE a licence to list and marketits EU products on IPE’s electronic trading platform, known as the Interchange.The contracts, which are expected to trade before the end of 2004, will becomethe first formal, exchange-based market for greenhouse gas allowances in theregion. Emission
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