Dow Jones Indexes and the Chicago Climate Exchange (CCX) have announced the launch of the Dow Jones/CCX European Carbon Index and Dow Jones/CCX Certified Emissions Reductions (CER) Index, which serve as benchmarks for participants seeking exposure to the European Union Emissions Trading Scheme (EU ETS) and Kyoto Protocol Clean Development Mechanism (CDM), respectively. The two new indexes are the first in a series of global emissions indexes to be launched jointly by Dow Jones Indexes and CCX. The Dow Jones/CCX European Carbon Index is composed of actively traded European Union Allowances (EUA) futures contracts on the European Climate Exchange. It measures the present discounted value of EUAs – the carbon credits issued in the European Union Emissions Trading Scheme, across different maturities. The indexes are weighted by the percentage of open interest that each contract has among the three included contracts on the last trading day of the previous quarter. The weightings of the underlying contracts for both indexes are rebalanced quarterly in April, July, October and January. The Dow Jones/CCX European Carbon and CER indexes are calculated in euro and values are published end of day. Estimated daily back-tested history for the Dow Jones/CCX European Carbon Index is available back to 2 January 2008; for the Dow Jones/CCX CER Index, data is available back to 1 April 2008.
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