The New York Mercantile Exchange, a subsidiary of NYMEX Holdings, Inc. (NYSE:NMX), the world’s largest physical commodity exchange, signed an agreement today with Ardour Global Indexes, LLC, a developer of benchmark indexes for the global alternative energy industry, to introduce alternative energy index futures and options contracts.
NYMEX Chairman Richard Schaeffer said, “The introduction of alternative energy indexes is an exciting initiative for NYMEX. We have seen an interest in what we believe will be an expanding segment of the world’s energy markets, and we strive to introduce innovative new products to the energy arena.”
The Ardour Global Alternative Energy Indexes were designed to serve as fair, impartial and transparent measures of the performance of the alternative energy industry. So far this year, the AGI has risen over 5%, reflecting surging interest in the sector caused by high energy prices, as well as security and environmental concerns. The capitalization weighted, float-adjusted family of indexes incorporates companies engaged in five primary alternative energy sectors: alternative energy resources (including wind, solar, ethanol bio-mass and others), distributed generation, environmental controls, energy efficiency, and enabling technologies.
Joseph LaCorte, AGI Index Committee Member, said, “The transformation of the world’s energy supply from fossil fuels to alternatives and renewables could become the dominant economic driver of the 21st century. The AGI is the bell-weather for that transformation.”
Mr. Schaeffer added, “NYMEX plans to offer these products on the CME Globex® electronic trading platform, where they will be available to investors, risk managers and traders around the world.”
The AGI has also been licensed to several major providers of index products, including the Van Kampen division of Morgan Stanley, UBS, and Van Eck Global.
Detailed information, including constituent data, rules and price information, on the AGI family of alternative energy indexes is available through most major data vendors under the symbols AGIGL and AGIXL and:
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