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Montreal Climate Exchange Launches First Canadian Environmental Market
MONTREAL, May 30 /CNW Telbec/ - The Montreal Climate Exchange (MCeX), a joint venture of the Mont...
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[{"type":"text","content":"\n\n\n\nMONTREAL, May 30 /CNW Telbec/ - The Montreal Climate Exchange (MCeX), a\njoint venture of the Montreal Exchange (MX) and the Chicago\nClimate Exchange(R) (CCX), today officially launched trading of a new futures\ncontract on Canada carbon dioxide equivalent (CO2e) units.\n\n\n"The listing of the MCeX futures contract is a 'first' and it makes\nMontreal Climate Exchange the first regulated environmental market in Canada,"\nsaid Luc Bertrand, President and CEO of the Montreal Exchange, Deputy CEO of\nthe new TMX Group and chairman of MCeX. "This is a historic milestone in the\ndevelopment of both the MX and the Canadian financial markets."\n\n\nMr. Bertrand was speaking to an official MCeX launch ceremony in the\npresence of Quebec Premier Jean Charest, Federal Environment Minister John\nBaird and Federal Public Works and Government Services Minister Michael M\nFortier. Also attending were representatives of MCeX market makers -Orbeo, TD\nSecurities Inc. and TradeLink LLC - and a group of MCeX business partners (see\nlist on page 2). After a short countdown, fully automated trading in the MCeX\nfutures contract was launched at 9:30 am on the MX SOLA (R) platform.\n\n\n"We know this is the first step in a gradual process of constructing\nenvironmental markets in Canada and attracting investors to participate," \nMr. Bertrand said. "Our goal is to position MCeX as a leading developer of\nmarket solutions that help industry reduce greenhouse gas emissions as\nefficiently as possible."\n\n\n"Our launch of the Montreal Climate Exchange will help establish Canada\nat the forefront of environmental finance and integrated international\nemissions trading," said Richard Sandor, Chairman and Founder of the Chicago\nClimate Exchange(R), which operates the world's first greenhouse gas emissions\nreduction and trading system, now with members and project participants\nworldwide.\n\n\nMCeX Market Makers and Partners\n\n\nMr. Bertrand emphasized that the MCeX listing was the product of years of\neffort by a dedicated MX team working with CCX experts. "I also want to thank\nMCeX market makers - Orbeo, TD Securities Inc. and TradeLink LLC - and our\nbusiness partners for supporting this new market. Their efforts and expertise\nwill be critical to our success as the market operator.&quo...