The European Climate Exchange (ECX) could lose its hard-earned position as the world's leader in carbon emission reduction trading, thanks to a dispute between the Intercontinental Exchange (ICE) and its clearing and settlement house, LCH.Clearnet. That's partly because ECX isn't a recognized investment exchange, but rather a brain trust with good ideas whose products -- both exchange-traded and over-the-counter -- are regulated as ICE products and cleared through LCH.Cleamet. Meanwhile, ECX had been negotiating with LCH.Clearnet to develop futures on Certified Emission Reduction certificates, which are earned by companies in the developed world as carbon offsets by funding clean development projects in the developing world.
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