Notice to Members
Notice No. 136 03/12/2008
European-Based Green Exchange Product Slate: Possible Need for Value Added Tax Review
Beginning on Sunday evening, March 16, 2008 (for trade date March 17, 2008), the New York Mercantile Exchange, Inc. will list for trading and clearing certain new emission allowance futures and options contract as part of the recently-announced Green Exchange initiative. This product slate includes the European Union Allowance (EUA) Futures Contract, which will be physically delivered at the UK Emissions Trading Registry (UK Registry). The product slate also includes the Certified Emission Reduction (CER) Futures Contract, which will be physically delivered at the UK Registry or at the Dutch CO2 Emissions Trading Registry. There may be value added tax, transfer tax or other tax liabilities for purchasers of CERs or EUAs as a result of the tax provisions in their respective jurisdictions. Accordingly, purchasers are advised to consult their own tax advisers in their relevant jurisdictions.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com