Greenmarket Exchange: Press releases http://www.greenmarket-exchange.com/ Press releases at Greenmarket Exchange en Greenmarket Exchange: Press releases http://www.greenmarket-exchange.com/typo3conf/ext/tt_news/ext_icon.gif http://www.greenmarket-exchange.com/ 18 16 Press releases at Greenmarket Exchange TYPO3 - get.content.right http://blogs.law.harvard.edu/tech/rss Mon, 06 Feb 2012 00:00:00 +0100 Emissions trading partnership between stock exchanges in Munich and Vienna: Emissions trading moves to Munich http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/boersen-in-muenchen-und-wien-kooperieren-im-emissionshandel-handel-mit-emissionsberechtigungen-geht.html greenmarket commodities exchange works together with the Austrian energy exchange EXAA in emissions trading operations. greenmarket supplies market members with a modern trading platform including clearing services. In future, Vienna-based EXAA will concentrate on electricity spot trading while... The exchanges greenmarket and Energy Exchange Austria (EXAA) have embarked on a strategic partnership in emissions trading. With immediate effect, greenmarket commodities exchange will offer EXAA market members the chance to trade on the spot and futures markets via greenmarket. Existing EXAA members can join greenmarket in a simplified membership process and trade in EU Allowances (EUAs) and Certified Emission Reductions (CERs). In recent months greenmarket, a business division of Bayerische Börse AG, organized as an exchange, has set up a secure cutting-edge trading platform for emissions trading and other products within the scope of European emissions trading and for newly created markets in the field of renewable energy products. Vienna-based EXAA will focus its strategic operations on electricity trading throughout Central and South-East Europe.
Dr. Christine Bortenlänger, Member of the Management Board of Bayerische Börse AG, explains, "Because the two exchanges, EXAA and greenmarket, will focus on their strengths in electricity and emissions trading respectively, they will be in a position to offer market members the best possible range of services. Members of EXAA can take advantage of greenmarket's services without complicated bureaucratic procedures. These services include a cutting-edge trading environment and secure clearing process, with the Swiss company SIX x-clear acting as central counterparty.“
Jürgen Wahl, Member of EXAA Management Board, comments, "With greenmarket as our partner, we will offer existing and future market members modern, secure spot and futures trading on the secondary emissions trading market. By ensuring that our two exchanges focus on their specialist areas, we will provide market members with improved service and optimum order processing." EXAA has offered weekly auctions for spot trading in emissions allowances since 2005. Under the new partnership the complete sector will be
transferred to Munich. EXAA and greenmarket will also join forces in the development of new products and services on the environmental and climate markets and in providing customer care for market members.

Press representative for Bayerische Börse:
Ulrich Kirstein, Bayerische Börse AG,
Karolinenplatz 6, 80333 Munich
Telephone: +49 (0) 89 549045-25, fax +49 (0) 89 549045-31,
E-mail

Press representative for EXAA:
Dipl. Ing. Jürgen Wahl, EXAA Abwicklungsstelle für Energieprodukte AG,
Alserbachstrasse 14-16, 1090 Vienna
Telephone: +43 (0)1 253 72 72-54, fax +43 (0)1 253 72 72-96
E-Mail]]> Tue, 05 Jul 2011 11:12:00 +0200 Constituent assembly of greenmarket Exchange Council http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/konstituierende-sitzung-des-boersenrates-der-boerse-greenmarket.html New commodity exchange founded by the Bavarian Stock ExchangeThe official foundation of greenmarket Commodity Exchange took place on 25 May 2011 with the constituent assembly of its Exchange Council. "Munich Stock Exchange, with over 180 years of history, has now added a commodity exchange -... New commodity exchange founded by the Bavarian Stock Exchange

The official foundation of greenmarket Commodity Exchange took place on 25 May 2011 with the constituent assembly of its Exchange Council. "Munich Stock Exchange, with over 180 years of history, has now added a commodity exchange - an auspicious event for the city as a stock exchange location", stated Dr. Christine Bortenlänger, Member of the Managing Board of Bayerische Börse AG. "This new commodity exchange will enable us to send a clear signal in spot and futures trading, and transform Munich into a major centre for secure carbon emissions trading", explained Dr. Robert Ertl, one of greenmarket's Managing Directors. Herbert Schuster, the newly appointed Chairman of the Exchange Council and also Director of mwb Wertpapierhandelsbank AG, said, "In my view, the setup of greenmarket Exchange will guarantee a significant role for the institution."
 
After the council assembly, the Securities Commission of the Bavarian State Ministry of Economic Affairs, Transport and Technology issued the necessary approval of greenmarket's Rules and Regulations passed by the Exchange Council. The members of the Council and Managing Directors of the commodity exchange, the Head of the Trading Surveillance Office and the Sanctions Committee had already been appointed on the occasion of the constituent assembly of greenmarket Exchange Council, on 25 May. Spot trading of emissions certificates (European Emission Allowances – EUAs und Certified Emission Rights – CERs) will take place daily on greenmarket from 8 am to 6 pm and is soon to be followed by futures trading. Further 'green' commodities will be added to greenmarket's scope of trading in the coming months.

greenmarket management
Long-standing executives and Prokuristen (authorized signatories) of Bayerische Börse AG, Dr. Robert Ertl and Dr. Marc Feiler were unanimously elected managing directors.

Appointed Head of the Trading Surveillance Office:
Norbert Betz, Bayerische Börse AG

Members of the Exchange Council:
Herbert Schuster (Chairman), Member of the Managing Board, mwb Wertpapierhandelsbank AG
Rochus Knobel (Deputy Chairman), Head of Energy Trading, Stadtwerke München GmbH
Stefan Albat, Deputy Managing Director, vbw – Bavarian Business Association, Munich
Hans Christian Koltze, Managing Director, Innovative Energy GmbH, Frankfurt
Michael Porr, Head of Trading, mk-group Holding GmbH, Hamburg
Marco Strimer, CEO, SIX x-clear AG, Zürich
André Zwingmann, Prokurist (authorized signatory), Emissions and Commodity Execution BHF-Bank AG, Frankfurt

Appointed Chairpersons of the Sanctions Committee:
Uwe Erling, attorney at Noerr LLP, Chairperson
Dr. Ines Zenke, attorney at BBH Rechtsanwälte Berlin, Deputy Chairperson

Press contact:
Ulrich Kirstein, Bayerische Börse AG,
Karolinenplatz 6, 80333 Munich
Telephone: +49 (0) 89 549045-25, fax +49 (0) 89 549045-31,
E-mail

]]> Wed, 29 Jun 2011 15:18:00 +0200 Greenmarket redefines security in emissions trading http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/greenmarket-definiert-das-thema-sicherheit-im-emissionshandel-neu.html greenmarket, the emission trading platform of Bayerische Börse AG (Munich Stock Exchange) will be exhibiting at the 8th edition of Carbon Expo in Barcelona from June 1 to 3 of this year. Under the shared roof of the German pavilion in the new exhibition grounds of the Catalan city, the greenmarket...
The trading platform greenmarket has developed a new set-up for emissions trading where particular attention is paid to security aspects. “With our new set-up we offer our trading partners the level of security and transparency that we are accustomed to from our daily business as a stock exchange”, says the Head of greenmarket, Dr. Robert Ertl. greenmarket started the re-entry into emissions trading on April 29, 2011 with a Central Counter Party (CCP) which ensures secure and transparent trading. Swiss SIX X-clear took the position of CCP.
When trading on the greenmarket platform there is a multiple secured relationship between the market members and the stock exchange. The data processing center fulfills the highest security standards and works with 100 percent system availability as well as a completely redundant trading system. The trading process through a Central Counter Party is additionally protected by General Clearing Members (GCMs) between the market member and CCP. For the market member it offers security in any clearing matter and makes attempts at fraud of any kind very difficult. By using a CCP all trading, clearing and settlement processes are offered in genuine real-time. The simple and cost-effective fee model, low spreads and netting all make emissions trading through the exchange the most secure and still cost-effective solution. ]]> Wed, 11 May 2011 00:00:00 +0200 greenmarket lowers trading fees by 25 %: Introduction of CCP results in simplified fee model http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/einfacheres-gebuehrenmodell-nach-setup-mit-ccp-greenmarket-senkt-handelsentgelte-um-25-prozent.html greenmarket, the emissions trading platform of Bayerische Börse AG, will introduce a central counterparty (CCP) in its clearing and settlement processes for emissions trading. By eliminating counterparty risk, the central counterparty function increases security of trading on greenmarket. As part... Press release from 28. October 2010 greenmarket, the emissions trading platform of Bayerische Boerse AG, will introduce a central counterparty (CCP) in its clearing and settlement processes for emissions trading. By eliminating counterparty risk, the central counterparty function increases security of trading on greenmarket. As part of these changes, greenmarket has decided to simplify its fee scheme and will
significantly reduce trading fees at the launch of this new clearing and settlement process. Fees on greenmarket are made up of three elements
·  Volume-dependent transaction fees (EUR 0.015 per tonne of CO2 traded)
·  Annual fees for membership of greenmarket (EUR 3,000)
·  One-off registration fee (EUR 500)

"The trading execution quality and low costs we offer at greenmarket are virtually unmatched by competing exchanges and other trading platforms", notes Dr. Robert Ertl, Head of greenmarket, explaining, "Total costs are composed of fees on the one hand, and trading margins between bid and asked prices known as 'spreads' on the other. greenmarket is able to offer both extremely narrow spreads and exceptionally low fees, as – unlike some competitors – we do not charge licensing fees for the use of our trading system
or technical connection fees.“

With Swiss company Six x-clear as central counterparty (CCP), Munich is the first exchange to offer genuine real-time trading, clearing and settlement processes in emissions trading. The efficient netting process between the intermediary clearing banks offers further cost savings for trading members.]]> Thu, 28 Oct 2010 09:30:00 +0200 New central counterparty (CCP) in emissions trading: greenmarket gains Swiss clearing house SIX x-clear AG as partner http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/zentraler-kontrahent-ccp-im-emissionshandel-greenmarket-gewinnt-schweizer-clearinghaus-six-x-clea.html Bayerische Börse AG, operator of CO2 carbon certificates trading platform greenmarket, has won SIX x-clear AG as a key partner for its post-trade processes. The clearing house of the Swiss SIX Group, SIX x-clear AG will act as a central counterparty with responsibility for all clearing and... CCP The Central Counterparty (CCP) acts as a partner for both trading parties in the clearing and settlement of a transaction. During the clearing process, the CCP divides the purchase or sale of carbon credits on greenmarket into two separate and independent transactions. If one of the two parties to a transaction defaults, the CCP intervenes to prevent the other party from incurring damage. In return, the CCP requires market members to furnish security deposits (margins) aligned to the current day's risk estimates for the transaction in question. The clearing process takes place after conclusion of the transaction (matching), but before its clearing and settlement.

The CCP setup: adding security

As the central partner for all greenmarket members, SIX x-clear will eliminate the risk of default by securing both the sale and purchase sides. In addition, the CCP system replaces direct contact between buyer and seller and thus guarantees post-trade anonymity. Trading strategies thus remain unidentified and unknown, as is customary in securities trading. The function of the CCP will also practically eliminate the potential for value added tax fraud. The "reverse charge rule" under which purchasers, not sellers, must pay value added tax has been in effect in Germany since 1 July 2010; in addition, zero value added tax now applies to carbon trading in Switzerland – the domicile of SIX x-clear. Carousel fraud has thus been beaten.

The new CCP setup: increasing liquidity

Under SIX x-clear's CCP function, trading, clearing and settlement services are fully automated, enabling trading strategies to be implemented in real time. Together with the narrow spreads between bid and asked prices on greenmarket, this real-time settlement represents a cash-effective financial benefit for market members, enabling them to manage cash and certificate portfolios directly and with rapid turnover.

The CCP setup: adding convenience

The new CCP setup enables market members to make use of general clearing member services (including credit lines and online account access), in addition to providing easy and convenient trading using Trayport's Global Vision, a trading software in widespread use throughout the commodity trading sector, and SIX x-clear's integrated clearing and settlement system. In addition, clearing members have the option of net or gross settlement, where the intermediary general clearing member (GCM) settles all sell and buy orders from the day and market members are charged only the difference (net settlement or netting). About Bayerische Börse AG / Munich Stock Exchange Bayerische Börse AG is the agency under private law of the Munich Stock Exchange, an exchange under public law. Munich Stock Exchange offers access to both the primary and secondary markets. As a German exchange under public law, it guarantees the neutrality which is indispensible for safeguarding the interests of the members. Over 11,000 securities are traded on the Exchange based on the reference market principle (i.e. the prices always conform to the highest degree of liquidity – the reference market). Munich Stock Exchange has approximately 130 German and international members. In October 2009 Bayerische Börse AG launched greenmarket, a platform for carbon certificate trading. In addition, Bayerische Börse AG is co-operator of zweitmarkt.de, a trading platform for closed funds, and organiser of the CFD trading platform CONTREX.

About greenmarket
Established under the umbrella of Bayerische Börse AG, greenmarket offers trading of carbon certificates, European Union Allowances (EUAs) and Certified Emission Reductions (CERs). The platform, on which trading started on 2 October 2009, currently has 29 market members. greenmarket provides an unlimited number of members with a cutting-edge market model, continuous liquidity and extremely narrow spreads secured by means of market makers and a competitive pricing model. It serves as a spot trading platform for energy companies and financial institutes. Trading is conducted on the Internet using Trayport's GlobalVision Exchange Trading System.

 About SIX x-clear AG
SIX x-clear AG is part of the SIX Group, a Swiss provider of integrated financial market infrastructure. The company acts as central counterparty (CCP) for SIX Swiss Exchange und London Stock Exchange and is responsible for risk management within the SIX Group. The company holds a banking licence under Swiss law and the status of a Recognised Overseas Clearing House in the UK. SIX x-clear supplies efficient CCP and clearing services for the securities sector at competitive prices. Press contact: Ulrich Kirstein, Bayerische Börse AG, Karolinenplatz 6, 80333 Munich Telephone: +49 (0) 89 549045-25, Fax +49 (0) 89 549045-55, E-mail: kirstein@boerse-muenchen.de Press contact: Werner Vogt, SIX Group AG, Selnaustrasse 30, 8021 Zürich Telephone: +41 (0) 58 854 26 75, Fax +41 (0) 58 854 3227, E-mail: pressoffice@sixgroup.com]]> Thu, 05 Aug 2010 13:19:00 +0200 greenmarket expert group: The Clean Development Mechanism will keep playing an important role http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/expertenrunde-bei-greenmarket-der-clean-development-mechanism-wird-weiterhin-eine-bedeutende-rolle.html greenmarket, the CO2 exchange of the Bayerische Börse AG, hosted the seminar “CDM and JI – Status-quo and Future Outlook of both instruments” in cooperation with FutureCamp. Speakers were Marzena Chodor, Policy Officer, DG Climate Action of the European Commission, Butler, Director of Sales,...
“The CDM will continue and CERs will for sure be valid in the EU ETS beyond 2012”. This is the main statement of Roland Geres, managing partner of consultancy FutureCamp Holding GmbH, at a CDM expert meeting launched by CO2 exchange greenmarket in Munich on 17 June 2010. He made clear that the basis for the use of CERs and ERUs in the EU ETS in the future exists, but that “the EU must avoid distortions due to unclear communication or technical uncertainties.” According to Geres, the mechanisms CDM and JI work sufficiently and should be continued. But they should also be further improved and could be supplemented by new mechanisms in the course of time. Furthermore, qualitative standards set by the EU must be defined very clearly.
Benedikt von Butler, Director of Sales at Citigroup, highlighted some uncertainties like the EU target (20% or 30%) and the EU ETS benchmarks. “It’s like a déjà vu to see these uncertainties. It reminds me of the years 2003/2004 just before the EU ETS started”, he said also mentioning the discussions about CER quality restrictions in the EU ETS and uncertainties about the shape and timing of auctions in 2013-2020.

“There are topics that are clear, but some topics are still in a grey area”, Geres added and asked the EU to “keep the grey area and the timeframe, when this grey area exists as tight as possible.” He encouraged market participants to continue their CDM/JI activities and also to be aware of new developments in this field. Von Butler explained that the market has many opportunities, showing different types of swaps: “Swaps always make economic sense, regardless of the compliance position, but the timing and the type of swaps is important”.

He is sure that the CER supply will further grow, but the demand side strongly depends on how deep the involvement and the emissions reduction targets of the main players like the EU, Japan and the US will be. “There will be a growing market with Programmes of Activities (PoA) and with CDM in Least Developed Countries (LDC)”, Geres added and highlighted that these types of projects will generate very valuable certificates, if the regulations are set clear.
Marzena Chodor, DG Climate Action European Commission, confirmed that CERs from projects in LDCs, once registered, would continue to be recognized for compliance in the EU even if in the meantime the host country will lose its LDC status.

Concerning ERUs generated until 2012, she expressed that not just Track 2 projects but also Track 1 projects would continue, if an international agreement as successor of the Kyoto Protocol will be adopted. These credits would be accepted for compliance in the EU ETS also after 2012, if double counting with the ETS sectors post-2012 is avoided.

Chodor also emphasized the relevance of renewable energy projects and the role of large hydro project type as part of it. She stressed that the additional criteria within the ETS Directive for approval of large hydro projects were binding to all EU Member States. Moreover, a new regulation to harmonise approving large hydroelectric CDM projects regarding Article 11b (6) of the ETS Directive have been in effect as of 1 July 2009 and had been implemented by EU Member States through national regulations in order to provide the carbon market.

Responding to questions concerning the latest communication paper of the EU, Chodor highlighted that under some scenarios a 30% reduction target by 2020 (compared to 1990) could be achieved by the EU at reasonable costs without increased access to international credits. It is, however, not certain whether the EU will decide to unilaterally increase the target and what reduction path will be adopted.

About greenmarket
Established under the umbrella of the Börse München, "greenmarket" will offer spot trading of EUA and CER emission rights. Trading started at 2nd October 2009 – currently 26 market participants have been admitted to greenmarket. The trading platform offers all members access to an unlimited number of market participants without taking any counterparty risk.
Greenmarket’s reference market principle shows the tightest bid-and-ask-spreads with a guaranteed liquidity. Thus, financial institutes as well as energy supplier can execute their trading strategy on the spot market. No other trading facility has a fully automated straight through trading-, clearing- and settlement process, that enables every trader to react within seconds on market changes.


You can find further information on greenmarket under:
http://www.greenmarket-exchange.com
Contact: Tobias Pantenburg, tobias.pantenburg@greenmarket-exchange.com

You can find further information on FutureCamp Holding GmbH under:
www.futurecamp-holding.de
Contact: Dominik Glock, dominik.glock@future-camp.de


Press contact:
Ulrich Kirstein, Bayerische Börse AG, Karolinenplatz 6, 80333 Munich
Tel.: +49 (0) 89 549045-25, Fax +49 (0) 89 549045-55,
E-mail: kirstein@boerse-muenchen.de

]]> Mon, 21 Jun 2010 11:08:00 +0200 Investigation of two greenmarket participants for tax fraud http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/steuerfahndung-ermittelt-gegen-zwei-marktteilnehmer-auf-greenmarket.html Tax investigation services contacted Bayerische Börse AG on April 28, 2010 in their investigation of two enterprises listed as market participants in the CO2 trading segment. The market participants are accused of having committed turnover tax fraud in connection with CO2 certificate trading. “We... 2 trading segment. The market participants are accused of having committed turnover tax fraud in connection with CO2 certificate trading. “We immediately suspended both companies from greenmarket trading until further notice and blocked their access to the system”, says Andreas Schmidt, managing director of Börse München. “As a public law institution, Börse München cooperates closely with the authorities, so that the matter can be concluded quickly and effectively”, Schmidt continues. About Börse München Börse München offers trading services in approximately 11,000 securities representing various asset classes from more than 60 countries around the world. Börse München is a stock exchange operating under public law and provides access to both primary and secondary markets. As a German stock exchange governed by public law, it ensures neutrality in safeguarding the interests of market participants. Börse München operates based on the reference market principle (i.e., spreads are compared to applicable reference markets). About greenmarket Established under the umbrella of the Börse München, "greenmarket" will offer spot trading of EUA and CER emission rights at competitive prices with clearing, settlement and custody provided by Deutsche Bank Global Transaction Banking. Trading will commence on 2nd October 2009. PR Contact: Ulrich Kirstein, Bayerische Börse AG, Karolinenplatz 6, 80333 München, Germany
Phone: +49 (0) 89 549045-25, Fax +49 (0) 89 549045-31,
E-mail: kirstein@boerse-muenchen.de]]> Wed, 28 Apr 2010 09:43:00 +0200 Munich Stock Exchange protests against fraudulent misrepresentation in Spiegel http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/boerse-muenchen-verwahrt-sich-gegen-falschdarstellung-im-spiegel.html In its issue dated 7 December 2009, the weekly magazine "Der Spiegel" presents a photo of the Munich Stock Exchange with the headline "The climate mafia"; the sub-heading read "Stock exchange in Munich: "Fraud via mouse click".Bayerische Börse AG and the Munich...
Bayerische Börse AG and the Munich Stock Exchange expressly repudiate the impression hence created that the Munich Stock Exchange promotes fraudulent behaviour or is part of a fraudulent system. In this regard, it establishes the following facts:

Any and every impression that the Munich Stock Exchange organises or promotes "fraud via mouse click" is wrong. Legal measures against Spiegel in this regard are being looked into.

The article refers to market participants of CO2 emissions trading and is entitled "The climate mafia". The naming of the Munich Stock Exchange in this context is wrong, commercially harmful and defamatory. Legal measures to this extent are also being checked.

The fact is that, since 2 October 2009, the Munich Stock Exchange has been organising spot trading in emissions rights in the market segment greenmarket under the umbrella of the Bayerische Börse AG which is subject to public law. Currently, 20 market participants have been admitted to and are technically connected with greenmarket. The adherence to the admission criteria in accordance with the Stock Exchange Act (Börsengesetz) and the rules and regulations of the Munich Stock Exchange was checked by the management of the Munich Stock Exchange.

Fraudulent behaviour on other platforms in the early summer – well ahead of the start of the greenmarket market segment at the Munich Stock Exchange – led to immediate measures being taken by certain EU Member States, particularly in France, Great Britain, the Netherlands and Spain. Any such immediate measure, e.g. in the form of a tax exemption for value-added tax (VAT) with respect to CO2 emissions trading, has not been taken in Germany thus far. The Munich Stock Exchange has repeatedly campaigned for such a measure and for an EU-wide standard procedure, and has called the attention of the market participants to the VAT-related aspects which they have to bear in mind.]]> Wed, 09 Dec 2009 10:00:00 +0100 greenmarket experts expect rising price level on long term http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/greenmarket-expertenrunde-erwartet-langfristig-steigendes-preisniveau.html In a lively discussion held on 10 November 2009, a panel of experts commented on the CO2 price development and consequences of the climate conference in Copenhagen. The discussion that included 20 specialists was initiated by greenmarket, the Munich-based CO2 emissions certificate exchange. Hans... http://www.greenmarket-exchange.com/ Contact: Werner Lang, lang@boerse-muenchen.de You can find further information on FutureCamp Holding GmbH under: www.futurecamp-holding.de Contact: Dominik Glock, dominik.glock@future-camp.de]]> Thu, 12 Nov 2009 16:28:00 +0100 Start of the new CO2 exchange – “greenmarket” http://www.greenmarket-exchange.com/en/nc/media-center/press/detailed-view/article/start-der-neuen-co2-boerse-greenmarket.html MUNICH, 5 October 2009 - “With Deutsche Bank Trust & Securities Services, London, the Börse München has been able to win over an excellent partner for the clearing transactions on greenmarket,“ emphasizes Dr. Christine Bortenlänger, member of the management of Börse München. “We are pleased to... MUNICH, 5 October 2009 - “With Deutsche Bank Trust & Securities Services, London, the Börse München has been able to win over an excellent partner for the clearing transactions on greenmarket,“ emphasizes Dr. Christine Bortenlänger, member of the management of Börse München. “We are pleased to have the opportunity to contribute to the success of greenmarket with our carbon credit clearing and settlement solution,” says Michael London, Director, Product Management for Global Debt Services at Deutsche Bank. “An efficient clearing and settlement as offered by Deutsche Bank is a precondition for a smooth operation of the exchange. This mandate further strengthens Deutsche Bank’s position as a leading provider of clearing and settlement services to a diverse range of participants in the carbon space,” he states and continues, “We are convinced that carbon credit trading will play an important role to reduce carbon emissions worldwide.” Greenmarket uses the GlobalVision Exchange Trading System provided by Trayport Exchange Systems. “Trayport Exchange Systems is able to provide our market participants with the leading system for trading carbon emissions certificates,” says Bortenlänger. The transactions on greenmarket executed on the platform are fully automatically and cleared by Deutsche Bank on the same day. Professional market makers ensure the narrowest spreads when trading on greenmarket and guarantee participants a high degree of liquidity. Börse München, being a public institution with an independent market surveillance unit, guarantees a maximum of security and transparency. “The global economy of the 21st century is shaped by globalization, emerging markets and climate change,“ says Dr. Christine Bortenlänger, member of the management at Munich Bourse. “With greenmarket, we are sure that we are taking an important strategic step in positioning the Munich Bourse for the future,” Bortenlänger continues. About Bayerische Börse AG / Börse München
Börse München started trading on 16 December 1830. It offers trading services in approximately 11,000 securities representing various asset classes from more than 60 countries. Börse München is a stock exchange operating under public law and provides access to both primary and secondary markets. Bayerische Börse AG acts as its agency under private law. Greenmarket is an  initiative of Bayerische Börse AG established under the umbrella of Börse München. As a German stock exchange governed by public law, it ensures neutrality which is indispensible for safeguarding the interests of the investors and credit institutions. Börse München operates based on the reference market principle (i.e. spreads are compared to applicable reference markets). www.boerse-muenchen.de About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,896 employees in 72 countries, Deutsche Bank offers comprehensive financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding customers, creating exceptional value for its shareholders and people. About Trayport Limited
Trayport is a supplier of multi-asset class electronic trading and order matching software for brokers, exchanges and traders. Trayport develops, deploys and supports quality, resilient software for trading in any asset class worldwide in cleared or OTC markets. Trayport’s GlobalVision software is used by the world’s largest trading companies in high profile markets that include derivative and cash instruments. Founded in 1993, Trayport has offices in London, New York and Hong Kong. Trayport is a subsidiary of GFI Group Inc. (‘GFIG’ on Nasdaq). More information is available at www.trayport.com]]> Mon, 05 Oct 2009 14:46:00 +0200