Australia-based Carbon Trade Exchange (CTX) has teamed up with the Minneapolis Grain Exchange (MGEX) to launch a spot carbon exchange for the California cap-and-trade system.
“This partnership will enable CTX to provide a simple, secure and transparent spot exchange service for U.S. carbon market participants, enabling businesses to meet their compliance obligations in an efficient and cost-effective way. We look forward to working with MGEX to deliver the infrastructure required to boost market liquidity and growth,” said CTX Chief Operating Officer and President of CTX USA Nathan Rockliff in a statement.
CTX said it is seeking approval by the California Air Resources Board to become the first exchange to offer an intra-day spot trading venue for California carbon allowances and offsets.
By Ben Garside – email@example.com