CIX Exchange facilitates two-way spot trading of standard contracts and firm orders for project credits.
Our spot platform is built on robust Nasdaq technology and is designed to concentrate liquidity for standard contracts, such as the CIX Nature X (CNX), CIX Cookstoves X, and CIX ARR X benchmark contracts, as well as facilitate transparent price discovery of firm orders of individual projects.
Complementing on-screen price determination, we facilitate privately negotiated transactions through CIX Clear, a dedicated clearing and settlement service. Combined, these two solutions help scale global impact by elevating carbon market price transparency, certainty, and liquidity.
CIX Exchange provides a credible trading venue for the underserved Asia, Europe and Middle East markets. In addition to regular trading hours, CIX Exchange is also designed to generate the sharpest market prices by concentrating liquidity in a daily 30-minute pricing window. This dramatically improves the ability of professional traders, brokers and financial institutions to test prices, mark-to-market and perform credit portfolio evaluation.
Standard contracts such as CNX generate a global pricing benchmark that is more tightly representative of leading REDD+ projects (vintage 2020 onwards). These price references are fit for referencing in and enabling fair, market-price linked forward agreements. The focused basket of well-established, globally accepted REDD+ projects helps to mitigate distortive price signals that could occur when delivery baskets are overly expansive.
Transparent data on prices and volumes transacted facilitate forward curve price discovery, support development of derivatives for risk management, asset valuation, and hedging tools for the development of derivatives. Crucially, it provides trusted pricing signals needed to finance decarbonisation.
The CIX Exchange platform is architected for extensibility and modularity. Powered by Nasdaq’s robust trade matching technology, it enables resilient and dynamically scalable trading, ensuring readiness for further contracts, new credit types, network partnerships and market data needed to scale carbon markets.
CIX ARR X is a series of benchmark contracts comprising market-accepted afforestation, reforestation and revegetation (ARR) credits with similar and desirable project attributes. Available at inception are two contracts that are designed to mitigate project delivery risk and capture price trends from the most liquid segments of the ARR market.
The first standardized contract traded is CIX Nature X (CNX), a benchmark contract with a curated basket of 10 well-established, globally accepted REDD+ projects that account for close to two-thirds of REDD+ market volumes.
CIX Cookstoves X (CCX) is a set of global benchmark contracts comprising improved cookstoves projects from key corners of the market. Available at inception are four standard spot contracts segmented by project location and registry – specifically, projects in the Least Developed Countries (LDCs) or Developing Countries that have been verified by either Gold Standard or Verra. Collectively, the four contracts cover the vast majority of the cookstoves market.
"Vertree is excited to help drive innovation and improved price-discovery in the carbon market. We need continued developments like NatureX for the carbon market to live up to its promise and reach the scale needed to limit global warming to 1.5 degrees"
“At Chevron, we believe the future of energy is lower carbon and are committed to delivering more reliable, more affordable, and cleaner energy to meet the world’s growing demands. Chevron is committed to a holistic carbon reduction strategy, and participating in CIX’s new spot exchange helps us meet that goal with a portfolio of credible, verifiable, and sustainable credit units.”
“The opportunity for verified carbon credits to be financed in an efficient and transparent way is essential for climate action. We are delighted to help make that happen as an inaugural participant in the launch of the CIX spot exchange.”
"This is a really important development for the voluntary carbon market as it will promote liquidity and price transparency around high integrity REDD+ projects. That is a critical step in building buyer confidence, and providing sustainable revenue streams to communities on the front lines of the climate crisis. These communities need reliable alternative sources of income over the long term to create the right incentive to preserve and protect our forests. That is the only way to ensure a tree is not worth more dead than alive."
We are excited about the CIX Nature contract and its index. It will allow wider participation from different profiles of buyer and seller creating a great opportunity for scaling up carbon finance.
"We are excited to support the launch of the CIX Carbon Spot Trading Platform. At Carbon Management Solutions we believe this platform has the potential to revolutionise the way in which carbon is traded, and drive progress towards a more sustainable future."
"The CIX Nature X contract enables broader participation from buyers and sellers of different profiles. It also contributes to scale up carbon finance and accelerate the carbon market evolution, which is critical to meet decarbonization goals of many energy industry players"
“CIX Exchange and its new benchmark contract will bring more robust price signals to the market, enabling project developers to valuate subtypes of NCS carbon credits and specific projects based on market-representative benchmarks. Increased transparency is imperative to build market confidence in this critical funding action, and ultimately channel private capital to much needed climate solutions.”
“Accelerating the global transition to net-zero requires urgent action at scale and on multiple fronts. Carbon credits - when used as part of a credible science-informed decarbonisation strategy - can be a powerful tool to unlock capital for the financing of climate mitigation solutions and activities at scale. Therefore, well-run carbon exchanges facilitating the buying and selling of trusted carbon credits are essential in enabling a low-carbon future. CIX’s progress is testament to the strength of the collaboration driving this effort, and DBS is proud to be a founding partner.”
“Singapore’s connectivity to key global financial centres makes it well-placed to serve the region as a carbon services hub. Recent efforts to facilitate access to capital and talent in carbon markets provide a welcome boost to deepen capabilities and create new jobs and economic value for Singapore and the region. GenZero looks forward to working with like-minded partners like Climate Impact X to facilitate greater cross-sharing of solutions and best practices to enhance trust and transparency in the global voluntary carbon markets and expedite the transition to a net zero economy.”
CIX’s successful launch of its spot trading platform is an important milestone towards enhancing liquidity and price transparency in the voluntary carbon markets. In line with SGX Group’s commitment to support global investors and companies in their transition towards net-zero, we will collaborate with CIX on developing critical risk management tools that are central to achieving our collective global climate ambitions.
“Nature X represents the level of transparency, pricing certainty and market representation, that is critical to achieve scale and inspire confidence in carbon markets. By participating in this inaugural trading of Nature X, Standard Chartered is pleased to support the development of a liquid carbon credit market. We are confident that Nature X will become a key benchmark that will enable project developers to more effectively manage their price risks, and in doing so potentially draw more funds towards quality projects that will help cut global emissions in line with the Paris Agreement.”
“The new CIX Exchange will be a platform that enables market participants to compare different types of carbon credits and specific projects based on market-driven price indicators, and make informed purchasing decisions. We welcome this innovative platform and CIX’s contributions to a transparent, high-integrity carbon market. It will be a valuable addition to Singapore’s ecosystem of carbon services offerings that are supporting the climate goals of Asia and beyond.”
“The launch of the CIX Exchange marks a significant milestone in driving greater transparency and liquidity in voluntary carbon markets. We welcome CIX’s latest offering which will further enhance Singapore’s vibrant carbon services and trading ecosystem. This strengthens our competitiveness as a global trade hub and contributes to the Trade2030 strategy to diversify our trading activities with the rest of the world.”
