CTX delays RGGI spot market launch

Published 18:11 on September 28, 2015  /  Last updated at 00:13 on September 29, 2015  /  Americas, US  /  No Comments

Emissions bourse operator Carbon Trade Exchange has delayed the launch of its spot market for RGGI permits in order to give clients more time to set up their accounts and get approval from their compliance departments.

(Updates with statement from CTX USA president)

Emissions bourse operator Carbon Trade Exchange has delayed the launch of its spot market for RGGI permits in order to give clients more time to set up their accounts and get approval from their compliance departments.

The launch had been scheduled to take place on Monday, but CTX USA President Dan Scarbrough said it had been postponed, declining to say whether a new date had been set.

“As we look to build critical mass, we have temporarily rescheduled the RGGI launch. We continue to on board key trading participants and brokers and look forward to going live in the coming weeks,” he said by email.

When opened, the market will be the first cleared, physically-settled spot bourse for a mandatory US carbon market.

RGGI permits are currently mainly traded as futures on exchange platforms ICE and CME.

CTX’s online spot platform will be linked to the Wells Fargo cash clearing system, interfacing with the RGGI CO2 Allowance Tracking System (COATS).

CTX said it can facilitate electronic trading through its secure, web-based platform or the clearing of over-the-counter (OTC) trades from the brokered market.

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