The Chicago Climate Exchange

The Chicago Climate Exchange (CCX) operates North America’s only cap and trade system for all six greenhouse gases. Exchange members are leaders in greenhouse gas (GHG) management and represent all segments of the global economy. Reductions attained through the exchange are the only reductions made in North America through a legally binding compliance system, providing independent, third party verification by the Financial Industry Regulatory Authority (FINRA).

The commodity traded on CCX is the Carbon Financial Instrument® (CFI®) contract. Each CFI represents 100 metric tons of Caron Dioxide, or one carbon credit. CFI contracts are comprised of Exchange Allowances and Exchange Offsets. Exchange Allowances are issued to emitting Members in accordance with their emission baseline and the CCX Emission Reduction Schedule. Exchange Offsets are generated by qualifying offset projects. Members who reduce below the targets have surplus allowances to sell or bank; members who emit above the targets comply by purchasing the CFI contract.

CCX has developed standardized rules for issuing CFI contracts for the following types of projects:

• Agricultural methane

• Coal mine methane

• Landfill methane

• Agricultural soil carbon

• Rangeland soil carbon management

• Forestry • Renewable energy

• Ozone depleting substance destruction

CCX has six membership categories:

Members: Entities with direct greenhouse gas (GHG) emissions.

Associate Members: Office-based businesses or institutions with small direct GHG emissions.

Offset Providers: Qualifying owners of offset projects that sequester, destroy or reduce GHG emissions.

Offset Aggregators: Administrative entities serving on behalf of owners of multiple offset-generating projects.

Liquidity Providers: Entities or individuals who trade on CCX for purposes other than complying with the CCX Emission Reduction Schedule.

Exchange Participants: Entities or individuals who purchase CFI contracts and retire them to offset emissions associated with special events or other specified activities.