Climate Exchange
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| Climate Exchange, PLC | |
| |
| Founded | 2004 |
|---|---|
| Headquarters | London/Chicago |
| Key People | Richard Sandor, Chairman; Neil Eckert, Chief Executive Officer |
| Products | *Chicago Climate Futures Exchange *Montreal Climate Exchange *European Climate Exchange *Chicago Climate Exchange |
| Web site | www.climateexchange.com |
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Climate Exchange Plc owns and operates four exchanges in North America and Europe that trade environmental-based instruments like credits and offsets for carbon emissions. The company began its existence in 2004 as the Chicago Climate Exchange (CCX).
History
Climate Exchange Plc was formed in November 2004 [1] by changing the name of the CCX and placing 15,000,000 new shares worth £15m. At the same time the new company made investments in the European Climate Exchange (ECX), which had begun trading European-based carbon-emission permits earlier that year.
One month later the newly formed Climate Exchange Plc launched trading on the Chicago Climate Futures Exchange(CCFX). The following year, in December 2005, the company formed the Montreal Climate Exchange (MCX), bringing its total global exchanges to four.
In September 2006 Climate Exchange Plc acquired the remainder of CCX it didn't own and placed £12.2 million of new shares with Goldman Sachs. Two months later the company appointed Neil Eckert [2] its new chief executive officer.
Latest News
In mid-April 2008 Climate Exchange Plc formed an alliance with Dow Jones Indexes to co-brand and market its group of emissions indexes for carbon and sulfur traded on the CCX, ECX and CCFX.[3] The new product will be called the Dow Jones/CCX Emissions Indexes and the pair hope the indexes will form the basis for structured products like derivatives contracts to be traded on environmental-based marketplaces. The CCX indexes currently measure trade in U.S. carbon and sulfur dioxide emissions and European carbon emissions, although more are in development.
References
- ↑ Company History. Climate Exchange Plc. Retrieved on April 14, 2008.
- ↑ Directors. Climate Exchange Plc. Retrieved on April 14, 2008.
- ↑ Climate Exchange unit signs Dow Jones indexes agreement. Thomson Financial. Retrieved on April 17, 2008.
