Much was expected but little emerged from the climate talks in Copenhagen in 2009. As the financial crisis hit, discussion about the cap and trade system got pushed back. In Europe, market participants are worried about the move from government-allocated carbon credits to market auctions.
Whatever happens at the UN meetings in Copenhagen this December, the carbon markets will have to re-examine the structures put in place by the Kyoto Protocol, not least the Clean Development Mechanism. But is it beyond repair or just in need of a tune-up? Writer Jim Kharouf
Jim Kharouf explains how The Clearing Corporation lived on despite being dumped by the mighty Chicago Board of Trade.Dennis Dutterer is seen as the gutsy player who stood up against the bullying tactics of the Chicago Board of Trade (CBOT) and helped forge a new era of US futures competition in which Eurex US began trading last month. “I don’t mind that,” chuckles Mr Dutterer, president and CEO of The Clearing Corporation (CCorp) – formerly the Board of Trade Clearing Corporation (BOTCC).