BarCap creates RGGI forward trade agreement
Barclays Capital has executed its first transactions on a forward trade agreement for US emissions allowances in the Regional Greenhouse Gas Initiative (RGGI).
BarCap, in consultation with Calpine and Royal Bank of Canada (RBC), modified the existing US emissions allowance transaction annex, published by ISDA, to include provisions that mitigate price and delivery risks associated with RGGI allowances.
James Macintosh, US emissions trading vice-president at BarCap, says there is a strong appetite
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