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NZ Carbon Exchange Demonstrates Emissions Trading

MEDIA RELEASE
15 August 2007

NZCX – New Zealand Carbon Exchange Demonstrates Emissions Trading Capacity

New Zealand Carbon Exchange (NZCX) today demonstrated an emissions trading platform to a major climate change conference in Wellington.

Through its international carbon trading partner, CantorCO2e, NZCX has access to the worldwide emissions market. This includes the use of CantorCO2e’s electronic trading platform. NZCX demonstrated that screen based trading in this market is fully supported by expert brokers who interact with the European Union Emission Trading Scheme (EU ETS) and the international Kyoto Protocol based market including, the Clean Development Mechanism (CDM) and Joint Implementation (JI).

“The Over the Counter (OTC) brokered carbon market, in which CantorCO2e is a market leader, represents over 70% of the volume of carbon compliance units traded on a daily basis. NZCX, through its alliance with CantorCO2e, now has access to this market liquidity, which enables us to provide a first class service to our clients in New Zealand” said NZCX Director Murray Dyer.

Although emission trading is attracting significant interest from various automated electronic exchanges, the OTC brokered market remains dominant because the complexity of rules, regulations and legislation often requires human input that the exchanges are not equipped to provide. NZCX Director Karen Price also explained that “Today’s demonstration highlights the value of our international connections. We can place buy/sell orders in Europe and the United States as well as in New Zealand and so trading may continue 24/7 regardless of the time zone”.

NZCX’s three directors have unparalleled knowledge and commercial experience in advising on the international emissions markets in relation to New Zealand. “Matched with CantorCO2e’s global resources, NZCX has a clear lead in serving New Zealand based clients in the rapidly emerging emissions trading markets” said NZCX Director Stuart Frazer.

For further information on NZCX, please visit www.nzcx.com

ENDS

Notes to editors:

1. NZCX was established in 2004. The role of NZCX is to bring together buyers and reliable sellers of emission units and broker trades between them. NZCX is run by three directors, Murray Dyer, Stuart Frazer and Karen Price, all of whom have extensive experience of greenhouse and emissions trading issues.

The NZCX team’s combination of energy and environment markets, engineering, policy and legal expertise means that all aspects of emissions trading are covered. The company has offices in Wellington and Auckland. For more information visit www.nzcx.com.

2. CantorCO2e serves all of the world’s principal emissions markets, including the Kyoto markets (CDM, JI and European emissions trading), the US compliance markets, and the voluntary carbon market. The company is headquartered in London and San Francisco and has fourteen offices across five continents. CantorCO2e is a subsidiary of Cantor Fitzgerald, a leading financial services provider to the institutional equity and fixed income markets. Other shareholders include Mitsui. For more information visit www.cantorco2e.com.

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