Nymex Holdings Plans To Offer Emissions Contract By 1Q End

From Dow Jones via CNN Money:

The chairman of Nymex Holdings Inc. (NMX) said the first contract on a new system allowing emissions trading will be offered by the end of the first quarter of the year.

Nymex Chairman Richard Schaeffer said in a conference call with analysts that the company's first meeting with its partners takes place Friday.

Nymex Holdings is working with Wall Street banks including Merrill Lynch & Co. (MER), JPMorgan Chase & Co. (JPM), Credit Suisse Group (CS) and Morgan Stanley ( MS) on the Green Exchange, which would offer a venue for trading emissions....