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Green may be the hue of environmentalism, but it’s still the color of money to the Chicago futures exchanges vying for control of the nascent trading market in carbon emission credits.
CME Group Inc., the world’s largest futures exchange, and the Chicago Climate Exchange, led by Richard Sandor, inventor of bond futures, are both angling to dominate a market that could generate $120 billion in carbon-credit trading annually if a so-called cap-and-trade system becomes the law of the land.
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