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TFS Energy becomes Green Exchange founding member

29 May 2008  |  2229 views  |  0 Source: The Green Exchange

The Green Exchange today announced that TFS Energy has agreed to work toward building The Green Exchange venture as a founding member.

Introduced in December 2007 by Nymex Holdings, Inc. with Evolution Markets, the current anticipated founding member participants in The Green Exchange are Morgan Stanley, Credit Suisse, Goldman Sachs, JPMorgan, Merrill Lynch, Tudor Investment, Constellation Energy, ICAP Energy, Vitol, and RNK Capital.

Alan Kurzer, President of TFS Energy, said, "We look forward to utilizing the resources of our leading global environmental products group, TFS Green, to assist the NYMEX and other founding members in the successful development and launch of The Green Exchange. TFS has been involved with the NYMEX for over 20 years and continues to believe in the additional value that an exchange offers through price discovery and centralized clearing. TFS Green is currently the market leader in OTC emissions trading, which we feel will add significant order flow to this project."

The new exchange will offer a comprehensive range of environmental futures, options and swap contracts for markets focused on solutions to climate change, renewable energy and other environmental challenges. The first slate of environmental futures and options contracts were introduced on the New York Mercantile Exchange, Inc., the world's largest physical commodities exchange and a subsidiary of NYMEX Holdings (NYSE: NMX), on March 17.

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