CME Group Announces First Trades of CBL Australian Carbon Credit Unit (ACCU) Futures

Rhea-AI Summary

CME Group has launched CBL Australian Carbon Credit Unit (ACCU) futures for trading. The first trade, consisting of five contracts, was executed as a block between Freepoint Commodities and Mercuria on October 14, 2024. These futures are physically-settled and based on Xpansiv market CBL's underlying ACCU spot market.

Peter Keavey, Global Head of Energy and Environmental Products at CME Group, highlighted the increasing demand for Australian carbon credits on both compliance and voluntary bases. The new futures will provide access to the Australian market and help establish a forward curve for improved price discovery.

CBL ACCU futures allow for delivery of Australian carbon credits on the Australian National Registry of Emissions Units (ANREU), with deliveries facilitated by CBL. These futures are listed by and subject to the rules of NYMEX.

Positive

• Launch of new CBL Australian Carbon Credit Unit (ACCU) futures
• First trade executed with five contracts between major commodities firms
• Physically-settled futures based on established spot market
• Potential for improved price discovery in the Australian carbon credit market
• Expansion of CME Group's environmental products offering

Negative

• None.

CHICAGO, Oct. 17, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced its new CBL Australian Carbon Credit Unit (ACCU) futures have launched and are available for trading. A total of five contracts traded as a block between Freepoint Commodities and Mercuria on October 14, 2024.

"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," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "Demand for Australian carbon credits is increasing on both a compliance and voluntary basis. ACCU futures will not only provide access to the Australian market but will also help establish a forward curve, allowing for more price discovery in this rapidly evolving space."

CBL ACCU futures are physically-settled and based on Xpansiv market CBL's underlying ACCU spot market.  CBL ACCU Futures allow for delivery of Australian carbon credits (that meet the screening criteria set out in NYMEX rules) on the Australian National Registry of Emissions Units (ANREU).  Deliveries will be facilitated by CBL.

CBL ACCU futures are listed by and subject to the rules of NYMEX. For more information, please visit here.

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 is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

CME-G

 

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SOURCE CME Group

FAQ

When did CME Group launch CBL Australian Carbon Credit Unit (ACCU) futures?

CME Group launched CBL Australian Carbon Credit Unit (ACCU) futures on October 17, 2024, with the first trade executed on October 14, 2024.

What is the settlement method for CME's CBL ACCU futures?

CME's CBL ACCU futures are physically-settled, allowing for delivery of Australian carbon credits on the Australian National Registry of Emissions Units (ANREU).

Which companies executed the first trade of CME's CBL ACCU futures?

The first trade of CME's CBL ACCU futures was executed as a block between Freepoint Commodities and Mercuria on October 14, 2024.

How many contracts were traded in the first transaction of CME's CBL ACCU futures?

A total of five contracts were traded in the first transaction of CME's CBL ACCU futures.

What is the purpose of CME's new CBL ACCU futures?

CME's new CBL ACCU futures aim to help clients manage risks associated with carbon reduction strategies, provide access to the Australian market, and establish a forward curve for improved price discovery in the carbon credit space.