CME Group will transfer GreenX contracts and open interest to CME Group’s portfolio of products, and will work with market forces to ensure that trading and clearing of existing contracts on CME Globex and CME ClearPort continues with nominal impact.
Customers, who have open interest on GreenX will continue to be subject to the GreenX rulebook until the contracts and open interest are transitioned to a CME Group CFTC designated contract market, said the acquirer.
CME Group products & services managing director and COO Bryan Durkin said GreenX has increased its market share and has positioned itself as an industry leader, providing innovative futures and options contracts for environmental markets.
"By becoming part of CME Group’s suite of energy products – where they will continue to be traded on Globex and cleared through CME ClearPort – GreenX’s global product slate will be more closely integrated with our energy complex, and customers will benefit from the valuable clearing and margin offsets that we offer," Durkin said.
Before striking the merger deal with CME, GreenX Holdings was managed by a consortium of organizations including CME, Constellation Energy, Credit Suisse, Evolution Markets, Goldman Sachs, ICAP Energy, JP Ventures Energy Corporation, Morgan Stanley, RNK Capital, Spectron, TFS Energy, Tudor Investment and Vitol SA.
