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CCX Announces Launch of Futures Subsidiary

Exchange to Offer Sulfur Dioxide Cash Market by the End of 2004 Chicago Climate Exchange, Inc. (CCX), the first multi-national and multi-sector marketplace for the reduction and trading of greenhouse gas emissions, announced the creation of a futures subsidiary, Chicago Climate Futures Exchange (CCFE). CCX also unveiled plans to launch a cash market for sulfur dioxide allowances by the end of 2004. CCX currently offers a cash market for carbon financial instruments (CFIs). Details on the creation of the futures subsidiary are subject to approval from the Commodity Futures Trading Commission (CFTC). CCFE has applied for "designated contract market" (DCM) status with the CFTC. CCX has entered into an agreement with National Futures Association (NFA) as the regulatory services provider for the self-regulation of CCFE. The Clearing Corporation will provide clearing services for CCFE. IntercontinentalExchange, Inc. will continue to provide and service CCX's electronic trading platform for both the cash market and the futures market. The new cash market product will be called a Sulfur Financial Instrument (SFI). SFIs are based on emission allowances used for compliance with the Acid Rain Program established by the Clean Air Act of 1990. Currently there is only an over-the-counter market for sulfur dioxide […]

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New Genzyme Headquarters Leads Way as Many More Developers Go Energy-Efficient

by Thomas C. Palmer Jr., September 6, 2004 Kristen Galfetti's small glass office at the new Genzyme Corp. headquarters in Cambridge has two doors. One allows access from the hall, and the other opens onto a four-foot-wide walkway on the building's perimeter. An exterior glass curtain wall keeps Galfetti, Genzyme's director of investor relations, safely in that narrow "loggia" space on the 10th floor and provides a great view of Boston — but it does much more. The building's glass shell has computer-controlled blinds and louvers, part of a system that keeps Genzyme's 900 employees warm in the winter and cool in the summer. Genzyme Center is a state-of-the-art "green" building. "We don't use electricity for any of the heating or cooling in the building," Bo Piela, director of public relations for Genzyme, said recently while conducting a tour of the building, which has become something of a shrine to a rapidly growing sector of environmentalists. Genzyme even pipes in waste steam from a neighboring power-generating plant, to supplement both heating and cooling systems. The building has been open for 10 months, and it is projected to use a third less water than conventionally constructed buildings, and cut electricity costs […]

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