The Global Hub for the Verified Carbon Market
Rely on our complete end-to-end capabilities for carbon: CBL® spot exchange, Evolution Markets® brokerage and structured transaction services, Xpansiv® Connect™ portfolio management system and transaction data.
A complete carbon credit ecosystem, from ACCUs to VERs
Since our inception with CBL, Xpansiv has built the preeminent trading, market execution, registry, portfolio management and market data ecosystem for the verified carbon market. CBL offers breakthrough innovations such as the Global Emissions Offset™ (GEO®) standardized spot contracts – the first VCM bellwether contracts. Evolution Markets’ services range from trade execution to the structuring of long-term carbon credit transactions, supporting a wide set of hedging and market access needs.
Fully Transparent, Project-Specific Credit Trading
Trade a vast range of project-specific credits with full depth-of-book transparency, instant trade matching and same-day settlement. Filter the market by project type, registry, vintage, region and country. Use CBL’s full range of order types and RFQ and auction capabilities to optimize liquidity access for individual credit and portfolio trades. Settle OTC transactions via the exchange’s post-trade settlement mechanism, enabling trades with hundreds of qualified exchange participants without bilateral agreements.
GEO® Standardized VCM and Compliance Contracts
Xpansiv launched the first VCM standardized contract in 2020 and has continued to develop new offerings for the evolving voluntary and compliance markets. Recently launched contracts are aligned to the first-compliance phase of CORSIA and the ICVCM Core Carbon Principles.
CBL’s standardized contracts modernized the VCM by streamlining access, enhancing transparent price discovery and centralizing liquidity formation.
GEO CORSIA CP1
The GEO CORSIA CP1 provides a simplified way for market participants to buy and sell eligible emissions units (EEUs) that meet the CORSIA First Compliance Phase (CP1) eligibility criteria.
Automated tagging via Xpansiv Connect ensures EEUs delivered through the contract are CP1 eligible – giving compliance-focused buyers peace of mind.
ICVCM CCP® GEO Contracts
The CBL CCP GEO contracts streamline transactions of credits that meet stringent ICVCM criteria for robust and verifiable emissions impact.
The CBL ICVCM CCP contracts are specific to leading carbon registries, including ACR, Climate Action Reserve and Verra, ensuring the delivery of CCP-eligible credits from the respective registries.
GEO/N-GEO/C-GEO
The Global Emissions Offset™ (GEO®) revolutionized the VCM by providing the first transparent, liquid market benchmark contract.
The GEO portfolio was extended with the nature-based N-GEO® and the technology-based C-GEO® contracts. Information on these contracts is available in the CBL Rulebook and Standard Instruments Program on the Documents & Guides page.
Market Execution Services
Evolution Markets provides consulting services including assisting companies and governments with measuring emissions and developing net-zero and emissions reduction programs. It further provides intermediary services to help organizations effectively access the environmental commodity markets and structure and execute complex transactions. Evolution Markets is a pioneer in global carbon markets dating to the development of cap-and-trade programs and facilitating many of the markets’ first trades.
Australian Carbon Credit Units (ACCUs)
Xpansiv’s Australian Carbon Credit Unit (ACCU) trading platform enables live, screen trading of generic and project-specific ACCUs, as well as facilitation of over-the-counter transactions.
CBL Markets (Australia) Pty Ltd holds an Australian Financial Services Licence (No: 536825) which authorizes it to carry on a financial services business to make a market in Australian Carbon Credit Units to wholesale clients.
CBL’s ACCU contracts trade on the world’s leading spot trading platform for environmental commodities, where hundreds of Australian and global participants trade. ACCUs trade alongside other compliance markets including California Carbon, the Regional Greenhouse Gas Initiative and Renewable Energy Certificates (RECs), as well as regional and global voluntary markets.
Aviation
Xpansiv operates the IATA Aviation Carbon Exchange (ACE) in partnership with the International Air Transport Association. ACE is a centralized trading platform that enables airlines, airport operators and other aviation stakeholders to transact CORSIA and verified carbon credits globally. The fully transparent platform provides live, secure electronic trade matching, a range of clearing and settlement options as well as access to a broad participant universe – all designed to simplify compliance and voluntary offsetting for the aviation industry.
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Trading in futures and options involves substantial risk of loss and is not suitable for everyone. Past performance is not indicative of future results.
When Evolution Markets acts as a broker in futures contracts, either on an introductory or execution basis, it is acting through its wholly-owned subsidiaries, Evolution Markets Futures LLC or Evolution Markets Limited. Evolution Markets Futures LLC is an introducing broker registered with the U.S. Commodity Futures Trading Commission and is a member of the National Futures Association. Evolution Markets Limited is registered with the U.K. Financial Conduct Authority and is an introducing broker registered with the U.S. Commodity Futures Trading Commission and is a member of the National Futures Association.