The Montreal Excahnge (MX) and the Chicago Climate Exchange (CCX(R)) announced July 12 the establishment of the Montreal Climate Exchange (MCeX), the first environmental products market in Canada.

The new exchange combines the expertise of the MX, Canada's financial derivatives exchange, with that of CCX, which operates the only global greenhouse gas emissions trading system.  CCX is a world leader in building and operating environmental markets.

The two exchanges finalized their preliminary agreement, originally announced in 2005 during the landmark Montreal conference on the United Nations Framework Convention on Climate Change.

"The Montreal Climate Exchange will accelerate the development of a structured environmental market in Canada, " said Mr. Luc Bertand, President and CEO of MX.  "Since our first announcement, last December, we have received a multitude of requests for information.  There is no doubt that people are interested.  The Canadian industrial and financial communities are ready to welcome market-based solutions, and the Montreal Climate Exchange will provide those solutions."

MX will bring to the new climate exchange its expertise in leading-edge trading systems, clearing, market regulation and financial risk management.

"Establishing the Montreal Climate Exchange will place Canada in a strong position to confront environmental challenges in a cost-effective market-based manner.  MCeX is a significant advance in the global integration and expansion of environmental markets, "said Dr. Richard L. Sandor, Chairman and CEO of CCX.

"This new Exchange will combine the environmental and financial expertise of Chicago and Montreal to offer an attractive suite of environmental financial products and services to the Canadian market."

The mission of the Montreal Climate Exchange is to offer price transparency, environmental integrity, low cost, wide access and reliability to the many sectors of the Canadian economy involved in air quality and climate change concerns.

Bertrand pointed out that the Montreal Climate Exchange looks forward to emerging plans in Canada with regard to greenhouse gas emissions reduction, including the federal Government plan, expected in the fall.

For more information:  http://www.m-x.ca/accueil_en.php

Back to news and archive