Chicago Climate Exchange approved to trade futures

The Chicago Climate Futures Exchange (CCFE) obtained approval from the US Commodity Futures Trading Commission (CFTC) last week to trade emissions futures contracts.

CCFE – the futures subsidiary of voluntary emissions-trading market the Chicago Climate Exchange (CCX) – will initially offer futures on emissions allowances and plans to offer options at a later date.

The Clearing Corporation, a registered derivatives clearing organisation, will carry out clearing and settlement services for CCFE. The CCFE electronic trading platform will use a system licensed from and operated by Atlanta-based electronic platform IntercontinentalExchange (Ice). The CCX – a

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