Frequently Asked Questions
Below is a list of frequently asked questions GreenX has received from customers and prospective clients related to topics such as GreenX’s core business, products, markets, ownership, and regulatory status. To view a list of FAQ please click here.
What is Green Exchange (GreenX)?
GreenX is a regulated marketplace that offers participants a full suite of environmental products created by compliance markets in Europe and North America. Our futures and options contracts are listed for trading on the CME Globex electronic platform and cleared by CME Clearing/ Clearport, providing real-time, global access to the world’s largest derivatives exchange and financial guarantees. GreenX is a wholly owned subsidiary of CME Group Inc.
What type of products does GreenX offer?
GreenX offers a suite of environmental futures and options contracts listed for trading on CME Globex and CME ClearPort®. These products are based on commonly traded instruments in the European and U.S. markets: European Union carbon allowances (EUA), U.N.-certified carbon offsets (CER), U.S. Regional Greenhouse Gas Initiative carbon allowances (RGGI) U.S. emissions allowances (SO2, NOx) and Climate Action Reserve CLIMATE RESERVE TONNES™ (CRT™). GreenX will continue to develop additional products in an effort to focus on the needs of the evolving regional, national, and international markets, including the U.S. compliance market.
What is your regulatory status?
On July, 22 2010, the U.S. Commodity Futures Trading Commission (CFTC) approved GreenX as a designated contract market (DCM). Contracts on emissions allowances and credits in CO2, NOX, and SO2 will continue to be listed for trading by NYMEX until they are migrated to the GreenX DCM on January 24th, 2011. Additionally, GreenX is in the process of applying for authorisation as a Recognised Overseas Investment Exchange with the UK Financial Services Authority (FSA).
What GreenX listed products will be available for trading on CME Globex?
All GreenX listed products eligible for trading will be available for trading on CME Globex. GreenX listed products will also be available for clearing through CME ClearPort services. http://thegreenx.com/products/index.html
How do I become a Green Exchange Participant?
Only firms that require Direct Market Access need to apply for Green Exchange Participant status. Applicants must complete a Participant Agreement providing basic corporate, contact and background information and agree to be bound by Green Exchange Rules, establish an account relationship with a Green Exchange Clearing Member, and execute a Globex® Customer Connection Agreement.
What do I need to do to trade on GreenX?
Market participants interested in trading GreenX listed products should contact their clearing member firm to ensure it has GreenX clearing member status. In addition, participants should check with their front-end provider to ascertain its readiness.
What are the fees associated with becoming a Green Exchange Participant?
There are no membership fees or other exchange fees outside of our published transaction fee schedule. Currently, there is a fee waiver program in place for transactions completed prior to January 1, 2011. The GreenX fee schedule can be found at http://thegreenx.com/resources/fees.html
What is the relationship between CME Group and GreenX?
GreenX was acquired as a wholly owned subsidiary of CME Group Inc. on 2 April 2012. Since its launch in 2007, GreenX has leveraged CME technologies by listing our contracts for trading on the CME Globex electronic trading platform and clearing by CME Clearing / Clearport.
How do I find a GreenX clearing firm?
On July 13, 2010, CME Clearing in coordination with GreenX announced the availability of GreenX clearing member applications to all current CME/CBOT/NYMEX/COMEX clearing members. If you are interested in becoming a Clearing Member, please contact Andrew Pisano or Wouter De Klein. If you are interested in trading GreenX products, please contact your Clearing Member firm.
The following is a link to CME/CBOT/NYMEX/COMEX Clearing Members: http://www.cmegroup.com/tools-information/clearing-firms.html.
A list of all approved GreenX clearing members is available at http://thegreenx.com/resources/clearing-members.html
Will my front-end application (or ISV) work for trading GreenX listed products?
As long as the existing front-end application is already certified to CME Globex (iLink and FIX/FAST), and has made the necessary Tag changes, there is no additional certification required to trade GreenX listed products on CME Globex.
Which ISV should I use?
GreenX is agnostic on choice of over 50 ISV’s who have written to the API of Globex. A list of approved GreenX ISV’s is available at http://thegreenx.com/resources/isvs.html
What are trading hours?
All GreenX contracts are listed for trading on CME Globex, which is open for continuous trading throughout all business day with the exception of a 45-min break (17:15 – 18:00 ET / 22:15-23:00 UK local time). A full holiday calendar may be viewed at http://thegreenx.com/resources/holiday-schedule.html.
What is your location?
The Green Exchange's Global headquarters is located within the NYMEX building in New York City. Our first international office is located in London. Address details can be found at http://thegreenx.com/contact-us/index.html
What would the point of contact be at CME Group for customer related questions/issues?
For individual questions specific to functionality, market access, connectivity, certification, GCC authorized access, clearing relationships and any other customer centric inquires please contact Global Account Management. For more information, please contact:
(312) 634-8700 (Chicago) or email
globalaccountmanagement@cmegroup.com
