Carbon Credit Trading Comes of Age in the United States With Increased
NEW YORK, Jan. 15 /CNW/ - Belzberg Technologies Inc. (TSX:BLZ).
Answering the Nation's call for dramatic increases in renewable fuel use
over the next 10 years, Renewable Trading Services, LLC announced today the
development of an Internet based exchange platform for the purpose of trading
RIN credits in the United States. The RINMARK(TM) exchange addresses each of
the trading requirements established in EPA's final rule for the Renewable
Fuel Standard (RFS), first implemented on September 1, 2007 and since expanded
with the passage of the 2007 Energy Bill.
Renewable Trading Services, LLC is being formed by Belzberg Technologies
(USA) Inc., AgriFuels, LLC, I.A. Englander & Co. Inc. and The Freedom Group
Inc. Under the terms of the Letter of Intent, Belzberg Technologies will hold
24% of the entity.
Trading will begin January 30, 2008, following a web based conference
(RIN Trading Webinar) on January 16, 2008. The next phase of electronic
trading will commence by the end of the first quarter of this year. The RIN
Trading Webinar will be hosted by the RINSTAR(TM) Renewable Fuel Registry and
will serve to introduce participants from all over the industry to the new
exchange and the economic factors which will drive the market. Registration
for the webinar is offered on a first-come first-served basis at
www.rinmark.com. "This state-of-the-art RIN Exchange platform has been
designed by Belzberg Technologies Inc., with both business and the financial
institutions in mind," said Sid Belzberg, CEO of Belzberg Technologies and
Chairman of RIN Market Exchange.
The Renewable Fuels, Consumer Protection, and Energy Efficiency Act of
2007, has been the legislative vehicle of choice for reducing the carbon
footprint of motor fuels on the environment in the United States. With a new
CAFE standard of 35 mpg and a Renewable Fuel Standard (RFS) that increases
previously mandated levels by over 300%, the new laws effectively serve to
drive industry towards more environmentally responsible alternatives. At the
heart of the RFS is a credit trading program based upon the Renewable
Identification Number (RIN).
RINs are serial numbers assigned to ethanol and other bio-fuels when
originally manufactured or otherwise introduced into the U.S. marketplace by
producers or importers.
About Belzberg Technologies
Belzberg Technologies Inc. is a provider of technology-based brokerage
services, trading equities and options through Electronic Brokerage Systems,
Belzberg Technologies' wholly owned agency-only broker-dealer. Electronic
Brokerage Systems is a member of most North American stock exchanges, options
exchanges and clearing organizations, including the NYSE, NASDAQ, CBOE, NSCC
and OCC. Using Belzberg's suite of integrated trading tools and network
connectivity, Belzberg's customers have direct access to all North American
equities and options markets. The firm's client-base includes over 200 leading
U.S and international brokerage houses and financial institutions. Belzberg
Technologies is listed on the Toronto Stock Exchange (Ticker-BLZ) - additional
information is available at www.belzberg.com.
Forward looking statement disclaimer
Except for historical information contained herein, the matters discussed
in this press release are based on forward-looking statements that involve
risk and uncertainty. A variety of important factors could cause results to
differ materially from such statements, including but not limited to economic,
competitive, governmental and technological factors affecting the company's
operation, markets, products, prices and other factors.
For further information:
For further information: Sid Belzberg, Chief Executive Officer, Phone:
(416) 360-1812, (212) 943-1400, E-mail: email@example.com,