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CCX and IPE team up to offer EU emissions contracts

The Chicago Climate Exchange (CCX) and the International Petroleum Exchange (IPE) today signed an agreement to list cash and futures contracts in European Climate Exchange carbon financial instruments (ECX CFIs) on the IPE. Greenhouse gas emissions trading platform CCX has also set up a subsidiary, ECX, to serve as a sales and marketing office headquartered in Amsterdam.

Under the cooperation and licensing agreement, the companies will launch a series of ECX CFI futures contracts relating to the EU emissions trading scheme by the end of the year. Cash products will follow in early 2005. London-based energy futures and options exchange IPE will list both the cash and futures products and trade them on its electronic platform, under licence from CCX. London

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