ECX CER futures cleared for launch

European Climate Exchange (ECX) and clearing house LCH.Clearnet have reached an out-of-court settlement over the proposed launch of ECX Certified Emission Reduction (CER) futures contracts.

The contracts, to be traded on ECX partner ICE Futures Europe, had been originally scheduled for a September 2007 launch, but were delayed due to clearing issues.

Currently LCH.Clearnet clears ECX contracts, but after ICE gave notice of a planned switch to its own clearing house, ICE Clear Europe, for its other

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