Montreal Climate Exchange

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Montreal Climate Exchange
MontrealCE.gif
Founded July 12, 2006
Headquarters Montreal, Canada
Key People Alain Miquelon, Executive Vice-President, Chief Financial Officer and Head of Strategic Development; Léon Bitton, Vice-President, Research and Development
Products Environmental products market
Website http://www.mcex.ca

The Montreal Climate Exchange (MCeX) is a joint venture of the Montreal Exchange (MX) and the Chicago Climate Exchange (CCX). It was established on July 12, 2006 and launched on May 30, 2008 as the first environmental products market in Canada.

The exchange opened by offering Canadian carbon dioxide futures.

MX brought to the exchange its expertise in trading systems, clearing, market regulation and financial risk management. CCX contributes its expertise in operating the Chicago Climate Exchange, as well as the European Climate Exchange (ECX).

History

  • On July 12, 2006 the Montréal Climate Exchange was established as a partnership between the MX and the CCX. The two exchanges finalized the preliminary agreement announced in Montreal on Dec. 7, 2005 during the first meeting of the parties to the United Nations Framework Convention on Climate Change.
  • On Oct. 2, 2006 the exchange said the federal government appeared to be moving in the right direction on emissions regulation.[1]
  • On Oct. 23, 2006 the exchange promoted a market-based solution to help meet environmental challenges.
  • On May 10, 2007 the MX filed for regulatory approval of market rules for trading of MCeX environmental products.
  • On July 25, 2007 the Montréal Climate Exchange announced its carbon futures contract would be launched by year end.
  • On March 14, 2008, the Montreal Climate Exchange announced plans to launch trading of futures contracts on Canada carbon dioxide equivalent (CO2e) units on May 30, 2008, subject to regulatory approval.[2][3]

Products and Services

Key People

References

  1. "Getting credit for going green: Montreal’s Climate Exchange waits for the feds before it starts trading carbon emissions". Montreal Mirror.
  2. Press Release. Montreal Climate Exchange.
  3. "Montreal Climate Exchange announces May 30 as date for launch of trading in MCeX carbon futures". Forbes.com.