MCX signs MoU with IDEAcarbon

Under the memorandum of understanding (MoU), IDEAcarbon would also advise MCX on the propensity to launch carbon relate contracts. With the assistance of MCX, IDEAcarbon will create instruments that MCX will make available for trading on the MCX platforms.

"We will integrate IDEAcarbon's ratings into the design of carbon instruments we offer 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 the carbon market in India and internationally as 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.