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22 April 2004 - The International Petroleum Exchange (IPE), Europe's leading energy futures and options exchange, and the Chicago Climate Exchange, (CCX), the world's first multi-national and multi-sector marketplace for the reduction and trading of greenhouse gas emissions, will work together to provide a marketplace for EU emissions trading.
As part of the agreement, CCX will grant IPE a licence to list and market its European Union products on IPE's electronic trading platform, known as the Interchange.
Dr. Richard L. Sandor, Chairman and CEO of CCX, said, "The letter of understanding between CCX and IPE is a landmark in the development of a truly global marketplace for the reduction and trading of greenhouse gases. CCX's value proposition is a good fit and should serve to extend the IPE's presence and leadership in the European energy markets."
IPE Chairman Sir Bob Reid added, "we are looking forward to working with CCX on this important initiative. We believe that CCX's expertise in emissions trading, together with the IPE's exchange infrastructure and broad European customer base, will be of unique benefit to the European emissions trading community and will help to build liquidity in this emerging market."
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