CME adds to carbon emissions offset contracts

The CME Group is to add two new futures contracts to its suite of voluntary carbon products.

The CBL N-GEO Trailing and CBL C-GEO Trailing futures contracts will be available for trading on August 8, 2022 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.

the CME says their suite of voluntary carbon emissions offsets products are seeing 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.