TD Securities announced it will be a market maker for the new Canadian Carbon Future contract introduced today on the Montreal Climate Exchange, a joint venture of the Montreal Exchange and the Chicago Climate Exchange.

By providing market liquidity, TD Securities will aid a wide cross-section of industry participants in meeting greenhouse gas emission reduction targets. TD is the only Canadian market maker involved in this historic initiative.

“TD Securities is very pleased to extend its relationship with the Montreal Climate Exchange through participation in the emerging GHG emissions market,” says Bimal Morjaria, vice chair and global head, equity and energy derivatives, TD Securities. “We’re committed to our role as the market leader in the exchange traded derivatives market in Canada.”

The first regulated environmental market future in Canada, the Carbon Future contract will provide a pricing mechanism for carbon emissions in Canada. Initially there will be four futures listed with expiries ranging from June 2011 to March 2012. The future is based on 100 Canada carbon dioxide equivalent (CO(2)e) units.

“Our partnership with the Montreal Climate Exchange is one component of our overall environmental strategy,” adds Mike Pedersen, group head corporate operations, TD Bank Financial Group. “To reduce our own emissions we’re working hard to ensure our Canadian operations are carbon neutral in 2010, and TD is the first major bank in Canada to adopt this goal.”