ALEXANDRIA, VA. - Buyers and sellers of recyclables will be charged $1,000 a year to participate in the Chicago Board of Trade's new trading system for used materials - including plastics - expected to start up in mid-October. Those interested in getting price information, but not in participating in buying and selling, will be charged a smaller fee. The amount of the ``view only'' charge has not been determined yet, according to David Dougherty, a member of the Recycling Advisory Council in Alexandria and head of the Clean Washington Center in Seattle.
The American Arbitration Association in New York will provide arbitrators to moderate disputes over quality, contamination and other issues between buyers and sellers, he said.
The board expects to test the system twice before launching it in October. Participants will be able to access buyers and sellers on their computers via modem.
If the system succeeds, the council will consider starting a futures market for recyclables, Dougherty said.