Press releases
Paris, May 30th 2008
orbeo selected as market maker for first carbon futures contracts on Montreal Climate Exchange
orbeo, among the leading buyers and sellers of carbon products on global markets, announced today that it has been selected as a market maker for the first futures contracts of Canadian carbon dioxide equivalent units on the Montreal Climate Exchange. The Montreal Climate Exchange (MCeX) is the first public Canadian market dedicated to environmental products and launched trading of the contracts today.
Philippe Rosier, President of orbeo, comments: “This is a new step in the development of orbeo. Thanks to our involvement with the Montreal Climate Exchange, we are now in a position to be a key player in the Canadian market. This complements orbeo’s presence in the USA, as developing activities in North America is a major ambition for us.”
Jérôme Malka, Managing Director of orbeo, adds: “Along with the capabilities of our jointventure partner Societe Generale, orbeo will be able to bring liquidity, innovation and expertise to help develop this new and important market in North America. We look forward to this new challenge.”
The Montreal Climate Exchange (MCeX) is a joint venture of Montreal Exchange Inc. and the Chicago Climate Exchange®. MCeX is aiming to establish the leading market for publicly traded environmental products in Canada.
About orbeo Operating globally and headquartered in Paris, orbeo is a pioneering joint-venture combining industrial and financial expertise in the realm of carbon. From project to market, orbeo covers the whole carbon value chain and is among the leading buyers and sellers of CO2 products. orbeo originates carbon credits, providing project development to all types of providers (project owners and developers), and offers advising, trading services, carbon portfolio optimization and structuring of customized transactions to all types of customers (industrials, governments, voluntary buyers, investors). orbeo was recently voted Best Trading Company for credits from the Kyoto Protocol’s project-based mechanisms in the 8th Annual Survey Awards organized by the publication Environmental Finance.
orbeo has also won the First Place in the European ETS Allowances Trading category in the 2008 Commodity Derivatives Rankings Survey, organized by the publications Risk, Energy Risk and Commodity Risk.
orbeo is regulated by French regulators CECEI and AMF.