March 1, 2012 / 1:56 PM / 6 years ago

GreenX to launch EU CO2 futures for aviation Apr 2

LONDON, March 1 (Reuters) - GreenX will launch a European Union carbon allowance futures contract for the aviation sector for trading on April 2, the exchange said on Thursday.

The contract size will be 1,000 EU aviation allowances (EUAA) and contracts will be listed on a rolling quarterly expiration cycle in addition to annual December contracts through 2020, the exchange said.

As of Jan. 1 this year, the EU will require all airlines flying to and from Europe to cover their carbon dioxide emissions with allowances.

Rival bourse ICE Futures Europe launched EU carbon futures for aviation on Feb. 27 while EEX will launch EUAA trading from April. (Reporting by Nina Chestney)

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