MCX appoints IDEAcarbon as strategic advisor

"We will integrate IDEAcarbon's ratings into the design of carbon instruments on MCX," said Joseph Massey, Managing Director and CEO of MCX.

Shandi Modi, founder and CEO of IDEAcarbon said, "This MoU represents a key step in developing India's carbon market and internationally, for the first time, trading will be based on the goal of the Indian government and corporate leaders."

MCX launched futures trading in carbon credit - CER on June 9 this year for the contracts expiring in November 2008 and February 2009. The trading lot, tick size and initial margin for these contracts have been fixed at 250 tonnes, 50 paise and 6 per cent respectively.