Source: Green Exchange
Green Exchange in conjunction with leading Independent Software Vendors (ISV)s Bloomberg Tradebook, CQG, EasyScreen, FFastFill, Flextrade, OnixS, Orc Software, Patsystems, Stellar Trading Systems, SunGard, TradeCapture OTC and Trading Technologies today announced their intention to offer access to the new Exchange through their electronic trading software systems upon the Green Exchange receiving its Designated Contract Market license.
Currently ISVs connect to the CME Globex® electronic trading platform and act as the primary means for traders to execute orders and to access the market until the environmental suite of products that are currently traded on NYMEX are migrated to the Green Exchange.
All environmental commodity futures and options contracts will be cleared through CME Clearing and must be guaranteed by an approved Green Exchange Clearing Member. In addition, CME's ClearPort® Clearing Services, a web-based OTC clearing solution, is open to all registered OTC market participants who wish to clear European and North American environmental products.
"This development represents a milestone in the Green Exchange's strategy for global distribution and highlights the ease of access through the industry's leading front-end trading solutions", said Green Exchange LLC Chief Executive Tom Lewis. "Market participants will benefit from increased price visibility and their choice of an alternative platform through which they can execute their trades with competitive fees", Lewis added.
The futures and options contracts for environmental commodity products are currently listed traded and subject to the rules and regulations of the New York Mercantile Exchange (NYMEX). The Green Exchange has applied for Designated Contract Market (DCM) status to the US Commodity Futures Trading Commission (CFTC) and the environmental commodity products currently on NYMEX will be listed on the Green Exchange once it receives its regulatory designations.