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Follow on Google News | Financial Soultions: Nymex’s Green Exchange gets new head.New York Mercantile Exchange appoints Ex Ameritrade chief to head environmental exchange.
"He brings a unique understanding of how to successfully build and scale up new business models in both the broker-dealer and the environmental sectors." Nymex was launched as a New York equivalent of the Chicago Climate Exchange as well as a competitor, in early 2008, according to Financial Soultions research. Green Exchange has battled to secure a segment of the $126 billion global carbon emissions trading market, trading negligible volumes since its launch. Market analysts had predicted early on that Green Exchange would lead exchange trade in the new U.S. regional emissions market, called the Regional Greenhouse Gas Initiative, but it has so far amounted to very little. Earlier this month, Financial Soultions saw Green Exchange put aside trading fees for 3 months for all emissions futures and options, including European Union carbon permits, in an attempt to gain market share from U.S. emissions exchange leader Chicago Climate Exchange, a subsidiary of Climate Exchange Plc. # # # Financial Soultions is a Boutique Investment Advisory Firm with very selective Corporate, Private and Institutional Clientèle who enjoy above average returns and service. End
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