CME Group, the world’s leading derivatives marketplace, has officially launched its new CBL Australian Carbon Credit Unit (ACCU) futures, which are now available for trading. On October 14, 2024, the first trade involved five contracts exchanged as a block between Freepoint Commodities and Mercuria.
Peter Keavey, Global Head of Energy and Environmental Products at CME Group, expressed enthusiasm about the market’s response to the new CBL ACCU futures. “We are pleased to see industry interest and support for our new CBL ACCU futures, which are the latest product we have launched with Xpansiv to help clients manage the risks associated with carbon reduction strategies,” he stated. Keavey noted that demand for Australian carbon credits is rising for both compliance and voluntary purposes. He added that the ACCU futures would not only provide access to the Australian market but also aid in establishing a forward curve, facilitating improved price discovery in this rapidly evolving sector.
The CBL ACCU futures are physically settled and based on the underlying ACCU spot market managed by Xpansiv. These futures enable the delivery of Australian carbon credits that meet the screening criteria outlined in NYMEX rules and will be tracked on the Australian National Registry of Emissions Units (ANREU). The delivery process will be managed by CBL.
The CBL ACCU futures are listed under the rules of NYMEX.
