If approved, this designation will allow Green Exchange to operate as a stand-alone entity and to list futures and options contracts for the trading of environmental derivative products under CFTC regulation and oversight. The environmental products that Green Exchange intends to list initially are currently listed, traded and subject to the rules and regulations of the New York Mercantile Exchange (NYMEX).

"This milestone marks the first step in our move to operate an independent futures and options market," said Tom Lewis, Green Exchange LLC Chief Executive Officer. "Once a DCM, the futures and options contracts currently traded on NYMEX will be seamlessly migrated to Green Exchange enabling customers to continue to benefit from the same screen-trading access through CME Globex® as well as the safeguards of the CME Clearinghouse."

Nancy King, Chairperson of the Board of Green Exchange LLC, added, "Once Green Exchange is granted designation by the CFTC, our customers can be confident that their transactions on the exchange will be subject to a very high level of oversight. Attaining this level of regulation is consistent with the business goals of Green Exchange Venture as it strives to achieve the gold standard in all areas of operation."

The suite of environmental products that will be available on Green Exchange after CFTC approval of its DCM application includes futures and options contracts on emissions allowances that are traded and used for compliance in the EU's Emissions Trading Scheme (EUAs and CERs), as well as additional allowances and credits that currently trade in North American markets (NOx, SO2, RGGI and CARs).

These environmental contracts can currently be traded on NYMEX through the CME Globex® electronic trading platform. CME's ClearPort® Clearing Services, a web-based OTC clearing solution, is open to all registered OTC market participants who wish to clear both European and North American environmental products. In addition, traders of these products will benefit from the customer protection of the central counterparty clearing services of CME's Clearing House which can draw on over $8 billion from its Financial Safeguards Package.