Environmental & Energy
Mar. 17, 2021
The future of water rights in California: water futures trading?
At the end of last year, the Chicago Mercantile Exchange (the “Merc”) began allowing trading of water futures through a new futures contract on the Nasdaq Veles California Water Index.
Willis Hon
Associate
Nossaman LLP
Phone: 415-398-3600
Email: whon@nossaman.com
Willis is an associate in the firm's Water Practice Group. He represents clients before the California Public Utilities Commission and advises clients on a range of matters, including utility regulation, inverse condemnation, public entity governance, and environmental law.
In December 2020, the Chicago Mercantile Exchange (the "Merc") began allowing trading of water futures through a new futures contract on the Nasdaq Veles California Water Index. This contract tracks the price of water rights leases and sales transactions across the five largest and most actively traded regions in California. This new development allows market participants to hedge against the future price of that commodity in order to manage financial risk.
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