It is reported that Multi Commodity Exchange on Monday launched futures trading in carbon credit contracts for November 2008 and February 2009.

MCX said that
1. Under the contracts launched, trading would be for 250 tonnes of CER units with a maximum order size of 10,000 tonnes
2. The daily price limit for CER would be 5% and the initial margin would be for 6%
3. The delivery centre for the CER would be in Mumbai

Carbon credits are generated by entities for shifting to clean technologies, resulting in carbon emission reduction. They are bought by firms in rich nations for meeting targets on cutting down the quantity of carbon released into the atmosphere.