CHICAGO, June 28,
2022 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced that it will add two new
futures contracts to its suite of voluntary carbon products, which
have quickly found market adoption since launching last year.
The CBL N-GEO Trailing and CBL C-GEO Trailing futures contracts
will be available for trading on August 8,
2022, pending regulatory review, allowing clients to trade
offset credits that are no longer within the eligibility window of
the existing CBL N-GEO and CBL C-GEO contracts. Xpansiv exchange
CBL plans to launch the N-GEO Trailing spot contract on
July 18, 2022. The C-GEO Trailing
spot contract began trading in January.
"CME Group has been a leader in introducing effective price
discovery and risk management solutions that help global businesses
manage the risks associated with carbon reduction," said
Peter Keavey, Global Head of Energy
and Environmental Products at CME Group. "As liquidity in our
carbon markets continues to grow, customers can hedge their risk
across a range of different vintages and offset types all on one
exchange, with the benefits that come with transacting on CME
Group's platform."
CME Group's suite of voluntary carbon emissions offsets products
are already meeting a significant market need today, with
participation growing each month:
- 135+ million carbon emissions offsets have been traded since
launch, equivalent to over 135 million metric tons of CO2e.
- Record open interest on June 9,
2022 of 22,669 contracts, with open interest extending out
through 2025.
- Record volume on June 14, 2022 of
5,117 contracts traded, with combined average daily volume in June
currently over 1,400 contracts.
- June has seen a record number of new participants, with over 90
participants having traded one of the existing carbon emissions
offset products since launch.
Under the existing CBL N-GEO and CBL C-GEO futures contracts,
offset eligibility rolls on an annual basis and the oldest vintage
years are no longer eligible for delivery. The Trailing contracts
are designed to help market participants manage the price risks
associated with these older vintage years.
CBL N-GEO Trailing and CBL C-GEO Trailing futures will be listed
by and subject to the rules of NYMEX. For more information on CME
Group's voluntary carbon emissions offset products, please visit
www.cmegroup.com/offsets.
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