BEST BIDS TO BUY	1999: 50 tons @ $1,200/ton 2000: 100 tons @ $1,900/ton 00-02: 100 tons @ $1,700/ton
BEST OFFERS TO SELL	1999: 50 tons @ $1,900/ton 1999: 45 tons @ $2,250/ton 1999: 100 tons @ $3,400/ton 1999: 100 tons NOx for SO2 Swap 2000-02: 100 tons/yr (+) @ $2,725/ton 2000: 100 tons (+) @ $2,300/ton
RECENT TRADE PRICES	$1,850/ton (1999) $1,500/ton (1999) $1,650/ton (1999) $1,900/ton (1999) $1,850/ton (1999) $2,000/ton (1999) $2,075/ton (1999) $2,075/ton (1999) $2,050/ton (1999) $2,000/ton (1999) $1,975/ton (1999) $1,950/ton (1999) $1,925/ton (1999) $3,150 - $2,100/ton (1999) in chronological order
MARKET PRICE INDEX	1999 = $1,728/ton     down $1,458     (since 6/22/99) 2000 = $2,100/ton     down $795     (since 6/22/99) 2000-02 = $2,018/ton     down $877     (since 6/22/99) The Market Price Index (MPI) is derived by averaging the Best Bid, Best Offer, and Most Recent Trades.

NOx NEWS: Make sure you have (or will have) submitted your quarterly emissions data. Market activity has increased dramatically as prices have come down, while sources have been able to more fully asses allowance requirements.

How is the MPI Derived? The MPI, in $/ton, is derived by averaging the following: 1) the Best Bid - the highest price at which a buyer is willing to purchase at least 5 tons of NOx Allowances. 2) the Best Offer - the lowest price at which a seller is willing to sell at least 5 tons of NOx Allowances. 3) the Most Recent Trade - the price(s) at which NOx Allowances have been agreed to be transacted (NOTE: NOx Allowances have not yet been placed in Budget Sources' NATS Accounts, and thus trades cannot yet be "transacted". Until such time, the "Most Recent Trade" represents buyer(s) and seller(s) agreement(s) on price).

Questions? Like to Place an Order? Consider a Swap? Call Us at (800) 228-2955 (x6) Trade With the Cantor Environmental Brokerage Market Experts Cantor Environmental Brokerage has Facilitated over $1.5 Billion Allowance, ERC, DER, & RTC Trades