UBS launches Greenhouse Index
"We came up with the idea for this index after clients showed an interest in the connection between carbon emissions and climate change, so we created an index that combined assets linked to these," said Ilija Murisic, executive director, hybrid derivatives trading, at UBS in London.
The UBS-GHI is constructed using liquid, actively traded futures contracts. Weather exposure is derived from Heating Degree Day and Cooling Degree Day futures contracts traded on the Chicago Mercantile Exchange (CME)
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