NCDEX plans carbon credit, coal futures
By Sourav Mishra and Debiprasad Nayak
MUMBAI (Reuters) - The National Commodity and Derivatives Exchange Ltd (NCDEX) will launch carbon credit futures in mid-April and is planning to introduce coal futures in four months, a senior exchange official said on Thursday.
The exchange has also sought approval from the Central Electricity Regulatory Commission (CERC) to start a power bourse in a joint venture with the National Stock Exchange (NSE), Chief Executive P.H. Ravikumar told Reuters in an interview.
"We will be launching carbon credit futures in mid of April. We have the regulator's approval," NCDEX has not tied up with any international exchange to design the product, he said.
Rival Multi Commodity Exchange of India (MCX), which launched India's first carbon credit futures in January, had tied up with with Chicago Climate Exchange (CCX), which is run by Britain's Climate Exchange Plc.
"Coal futures, we should be able to launch in four months time," he said. MCX is also expecting to launch coal futures in the first half of 2008.
The exchange is also planning to launch India's first raw sugar futures as there is demand from the industry for such a contract.
He said NCDEX aims to increase participations in rubber and coffee futures, which despite their global commodity status have failed to attract volume and trade.
