Climate Exchange appoints Bank of New York Mellon as depository bank

Source: The Bank of New York Mellon

The Bank of New York Mellon (NYSE: BK), the global leader in asset management and securities servicing, has been selected by Climate Exchange plc (Climate Exchange) as the depositary bank for its American depositary receipt (ADR) program.

Each Climate Exchange ADR represents one-half of an ordinary share. The ADRs trade on the over-the-counter market under the symbol "CXCHY," and the ordinary shares are listed on the London Stock Exchange under the symbol "CLE."

Climate Exchange plc is a holding company whose subsidiaries are principally engaged in owning, operating and developing exchanges to facilitate trading in environmental financial instruments. The two main businesses are the Chicago Climate Exchange (CCX) which operates a trade system including an exchange for CO2 emissions as well as SOx and NOx contracts in the US and internationally, and the European Climate Exchange (ECX) which operates an exchange focused on compliance certificates for the mandatory European Emissions Trading Scheme.

"Climate Exchange has established an ADR program to support the company's activities on both sides of the Atlantic," said Richard Sandor, chairman of Climate Exchange. "We expect the ADRs to support our visibility in US markets, and our goal is for the ADRs to further improve our share trading both there and in the UK."

"We look forward to helping Climate Exchange unlock the potential of US equity markets through the establishment of its Level I ADR program," said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon's Depositary Receipt Division. "As the world's leading depositary, The Bank of New York Mellon will use its resources to keep Climate Exchange's ADRs top-of-mind among investors and brokers."

 

Comments: (0)