08 Aug '11, 12pm

Report: ICE to close Chicago Climate Futures Exchange

The embryonic US carbon market has received another blow after global exchange operator Intercontinental Exchange Inc (ICE) reportedly confirmed that it is to close the Chicago Climate Futures Exchange early next year. The Wall Street Journal reported on Friday that ICE had issued a note to traders informing them that the exchange, which was acquired as part of the company's $600m acquisition last year of London-based Climate Exchange PLC, will close at the end of the first quarter of 2012. FURTHER READING EU carbon price plunges to record low as focus returns to Greece Democrats vow to revive clean energy agenda in wake of debt fight "The US has not enacted carbon cap-and-trade legislation, and changes to the EPA acid rain programme have reduced trading activity," ICE said in the notice. "Accordingly, Chicago Climate Futures Exchange volumes are down substantially and the...

Full article: http://www.businessgreen.com/bg/news/2100094/report-ice-c...

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