Climate ExchangeAMF approves applications by Montréal Exchange and Canadian Derivatives Clearing Corporation
Decisions and Freeze and cease trade orders Organization
Montréal – The Autorité des marchés financiers (AMF) announced that it has approved the applications filed by the Montréal Exchange ("MX") and the Canadian Derivatives Clearing Corporation ("CDCC") to amend their respective rules in preparation for the creation of a Canadian climate exchange market in Montréal.
With these decisions, MX will be able to launch trading of futures contracts in carbon dioxide equivalent (CO2e) units. The features of these contracts were developed following the release by the Government of Canada of the Regulatory Framework for Air Emissions on April 26, 2007. It sets annual CO2 emissions reduction targets for pollution emitters in certain industrial sectors.
The AMF approval for amendments to the rules of MX and the CDCC contains terms and conditions that will enable the AMF to oversee and monitor changes in the new market and ensure that market participants are protected.
The applications filed by MX and the CDCC were published for comment in the AMF Bulletin of October 5, 2007.
The decisions are available on the AMF website in the News section under Media Centre and will be published on Friday in its Bulletin, also available on its website.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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