BNP Paribas Commodity Futures, a futures commission merchant and part of the BNP Paribas group, has become Green Exchange's clearing member, which will enable it to clear customer business upon the launch of the new exchange.
All Green Exchange environmental futures and options contracts will clear at the Chicago Mercantile Exchange’s clearing house, and all CME/CBOT/NYMEX/COMEX clearing members are eligible to become Green Exchange clearing members.
Tom Lewis, CEO of Green Exchange, said: “We are pleased that BNP Paribas Commodity Futures has joined our market as a clearing member, offering its clearing services for our environmental suite of products to its extensive client base.
“Current and future market participants will benefit from BNP Paribas’ clearing of futures and options listed on the Green Exchange and we believe they will play an important role in offering global client access to the exchange.”
Louis Caiafa, CEO of BNP Paribas Commodity Futures, said: “We are delighted to be the first clearing member of Green Exchange. This membership further complements our existing business in offering clients the ability to access leading exchanges around the world.”
The Green Exchange recently received its approval for designation as a contract market (DCM) from the US Commodity Futures Trading Commission. The environmental futures and options contracts that are currently listed for trading on the NYMEX trading platform and cleared through CME Clearing which are to be migrated to the Green Exchange platform include: EUA, CER, CAR, RGGI, NOx and SO2 futures and options emissions allowances.