China Mercantile Exchange carbon futures

Online, January 17, 2010 (Newswire.com) - China Mercantile Exchange welcomed today a decision granting regulatory approval of the market rules that will govern the trading of China Mercantile Exchange environmental products, namely futures contracts on carbon dioxide equivalent (CO2e) units.
The ruling was announced earlier in the day: "This decision is much appreciated since it enables the CNMEX team to stay on the critical path leading to the launch of trading in carbon futures at the end of 2010", said Mr. Robert Chiu Xai, Press Officer for the CNMEX. "It is a milestone for us in creating the leading public market for environmental products in China."
"I would like to acknowledge the contribution of the CNMEX team that developed the market rules
as well as the valuable work of critical reviewing the process"' Mr. Chiu Xan added.
The target period for the launch of trading in CNMEX carbon futures contracts is November 2010, as previously announced. The market rules commit CNMEX to operate a transparent, secure and liquid market that earns the confidence of traders, investors and market participants. Futures contracts based on China CO2e units will be traded on the CNMEX electronic trading platform,
Fongwen®. CNMEX will settle and guarantee contracts through its clearing house, the Chinese
Derivatives Clearing Corporation.