First biofuels index launches March 7

By | May 01, 2006
UBS, a Swiss investment bank, and Diapason Commodities Management, a Swiss commodities operator, together launched the first biofuels index for trading commodities used in production of ethanol and biodiesel, according to Tatjana Domke, spokeswoman for UBS.

The UBS Diapason Global Biofuel Index is published in U.S. dollars, euros, Swiss francs and Japanese yen. The index is made up of futures contracts on 10 physical commodities, including corn, two types of sugar, wheat, barley, rice and lumber in the ethanol group and rapeseed, canola and soybean oil in the biodiesel group. At press time, ethanol had an 83.01 percent weight on the index.