Thursday, Apr 2, 2009
Intrade has now listed a market for a cap and trade system for carbon emmission trading to be estbalished in the United States.
This market can be found under Business -- Cap and Trade.
A contract will settle (expire) at 100 ($10.00) if a cap and trade system for carbon emissions trading is established in the United States before midnight ET on the date specified in the contract.
A contract will settle (expire) at 0 ($0.00) if a cap and trade system for emissions trading is not established in the United States before midnight ET on the date specified in the contract.
A cap and trade system will be considered established once federal legislation authorising the creation of such a system becomes law, as reported by three independent and reliable media sources. Emissions trading under the system does not need to begin for the contract to be expired.
For purposes of this contract a cap and trade system is considered to be:
A system that requires some or all companies operating domestically in the United States to purchase transferable allowances for the emission of carbon pollutants, with the total allowances not to exceed a federal government mandated cap.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing email@example.com if you have any questions regarding this contract before you place a trade.