The IntercontinentalExchange (ICE) will close its U.S. emissions derivatives platform, The Wall Street Journal reports. The loss-making Chicago Climate Futures Exchange (CCFE) venture, which was launched in 2004, will continue to operate through the first quarter of 2012 before closing. The ICE will then list over-the-counter (OTC) emissions contracts representing products listed on the platform. On August 29, ICE seeks to start listing derivatives linked to emissions reduction plans in California, Massachusetts, New Jersey and Connecticut, as well as a sulfur-based contract.
Click here for the story from The Wall Street Journal.