CHICAGO, April 27,
2022 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced that combined volume
across CME Group's voluntary carbon emissions offset contracts has
surpassed 100,000 contracts traded, equivalent to 100 million
carbon offset credits, or 100 million metric tons of CO2
equivalent.
"CME Group continues to play a critical role in the development
of the carbon sector through our suite of voluntary carbon
emissions offset products," said Peter
Keavey, Global Head of Energy and Environmental Products at
CME Group. "This milestone of 100 million offsets traded is an
exciting step in the path towards net zero, creating more
transparency and liquidity that will be key to advancing strategies
and meeting global environmental targets."
Market users have quickly adopted these risk management tools
since the initial launch of Global Emissions Offset (GEO) futures
and Nature-Based Global Emissions Offset (N-GEO) futures last year.
Key highlights of how these markets have grown include:
- Combined open interest reached a record 20,763 contracts on
March 29, 2022, representing over 20
million deliverable carbon offset credits, with open interest
extending out to December 2024.
- Record average daily volume in March
2022 of a combined 1,000 contracts.
- Since launch, CME Group has had multiple clearing firms help
facilitate ten successful deliveries, totaling over 8.8 million
offsets, or 8.8 million metric tons of CO2 equivalent.
- Over 75 firms or brokers have executed trades in these
products.
- Nearly half of total volume has come from Europe and the Middle East, followed by North America and Asia.
GEO, N-GEO and C-GEO futures are listed by and subject to the
rules of NYMEX. For more information, please visit:
www.cmegroup.com/c-geo.
About CME Group
As the world's leading derivatives
marketplace, CME Group (www.cmegroup.com) enables clients to trade
futures, options, cash and OTC markets, optimize portfolios, and
analyze data – empowering market participants worldwide to
efficiently manage risk and capture opportunities. CME Group
exchanges offer the widest range of global benchmark products
across all major asset classes based on interest
rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's leading
central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe
LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the property of
their respective owners.
CME-G
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SOURCE CME Group