Carbon market welcomes ICE purchase of CCX
The Intercontinental Exchange (ICE) has announced the £395m acquisition of The Climate Exchange. The two entities have been partners since 2003.
The Climate Exchange owns both the Chicago Climate Exchange (CCX), which operates North America's only cap-and-trade system for all six greenhouse gases, and the European Climate Exchange (ECX), the leading exchange operating in the European Union Emissions Trading Scheme (EU ETS).
The acquisition is representative of a general trend towards consolidation across the global carbon exchange sector, says Simon Glossop, partner at London-based carbon trader CF Partners. "We're going to see more of
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