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After Mark Brown's mail about introducing a weather based contract I think
the Sydney Futures Exchange has gone one stranger.

  "SFE chief executive Mr Les Hosking said the exchange's aim was to create
a carbon trading market that was "truly global" and for Sydney to become the
Asia-Pacific centre for the trade.

The SFE's intention was to "securitise air", Mr Hosking said."


http://www.afr.com.au/content/current/news/news5.html

for more details.