National commodity and derivatives exchange Ltd. will launch futures contract for certified emission reduction (CERs) on April 10, 2008. NCDEX is the first exchange in any of the developing countries of the world to launch a futures contract for carbon credit issued under the United Nations Framework Convention on Climate Change (UNFCCC) on its exchange platform. The CER contract will be made available on April 10 for the delivery in December 2008. The subsequent yearly contracts are likely to be launched within two months for delivery in December between 2009 and 2012.