I tend to be one of a minority of American’s that don’t really pay much attention to the stock exchange. I’ve got a couple mutual funds here and there that do ok, but as a blue collar guy I do good to keep up with my checkbook balance let alone how many points company HUH? jumped up today. I do find it very encouraging though that starting in the first quarter of 2008 a new exchange will be opening up on Wall Street. Dubbed the Green Exchange, trading will revolve around the mega-billion dollar U.N. carbon credit market. Plus it will soon after begin listing emissions reductions credits. The basic idea behind carbon credits is that Company A earns tax credits for being environmentally friendly and then sells those credits to Company B whose environmental report card isn’t so great.
The New York exchange will be used to support the products listed on the Green Exchange “If you are trading oil and natural gas on the NYMEX, you won’t have to set up a different clearing account to trade these environmental products” says the creator of the Green Exchange.
Major companies from the oil, power, and gas sectors will all be represented as well as representatives from agriculture and financial futures traders. The Green Exchange will be similar to the Chicago Climate Exchange which is used to help members cut greenhouse gas emissions. The major difference however will come in the quantity of contracts and the number of those able to make trades.
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December 19th, 2007 at 10:59 pm
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