Trayport Limited (Trayport), a wholly-owned subsidiary of TMX Group, and IncubEx, Inc. (IncubEx), a Chicago-based privately held company that designs and develops new financial products in global environmental, climate risk, and related commodity markets, today announced the forthcoming launch of a new global voluntary carbon marketplace.
The Voluntary Climate Marketplace (TVCM) operated by IncubEx, will offer best-in-class market access to trade voluntary carbon offsets to the growing base of stakeholders looking to achieve net-zero commitments around the world.
The voluntary carbon offsets will be tradable through Trayport’s Joule platform, a leading global electronic trading solution for energy markets, providing market access to high-quality voluntary carbon offsets and other renewable attributes. IncubEx will work to build the marketplace through its extensive experience in establishing and growing environmental markets globally.
“We are excited to be working with IncubEx, which will operate a digitised marketplace, with Trayport’s dedicated front-end screen being used for trading OTC, spot and forward voluntary carbon offsets,” said Peter Conroy, President, Trayport. “This collaboration aims to bring transparency, liquidity and greater standardisation to an otherwise opaque marketplace. In doing so, it will greatly improve transactional efficiency and open up the market to a wider array of market participants including a growing number of corporates and sovereigns who have made net-zero commitments.”
By digitising the trading of carbon offsets, TVCM products will be accessible via Joule, offering market participants a transparent and comprehensive view of the global voluntary marketplace enabling brokers, buyers and sellers to transact offsets that meet their specific requirements for verified carbon reductions around the world.
“This collaboration is focused on increasing market access, transparency and execution efficiencies in more bespoke off-exchange voluntary carbon offset credits and other environmental attributes alongside more liquid, standardised exchange-traded environmental commodities,” said Michael MacGregor, CEO, IncubEx. “The IncubEx team has deep-rooted experience in pioneering voluntary carbon markets at Chicago Climate Exchange (CCX) and this initiative is in direct response to voids and opportunities expressed to us by our longstanding network of environmental market customers.”
TVCM is expected to launch in the first quarter of 2022 and will initially support the trading of offsets from: Gold Standard, Verified Carbon Standard (Verra), Climate Action Reserve and American Carbon Registry, which are voluntary offset standards and recognized by The International Carbon Reduction and Offset Alliance (ICROA).
About Trayport Limited
Trayport is the primary network and platform for European wholesale energy markets. Our network and solutions support the growth of our clients and trading markets. Our solutions are used worldwide by traders, brokers and exchanges in multiple asset classes across OTC and cleared markets. Trayport Limited is a wholly-owned subsidiary of TMX Group Limited (TMX Group). For more information about Trayport Limited, visit our website at www.trayport.com.
IncubEx is an incubator which develops products, services and technology solutions in environmental markets. The company works in conjunction with its global exchange partner, European Energy Exchange (EEX), Nodal Exchange and other leading service providers including Trayport and stakeholders to design and develop new financial markets, technologies and trading solutions in global environmental, climate risk, and related commodity markets. The IncubEx team is led by former key executives from Climate Exchange, which pioneered exchange based environmental trading and CCX, the world’s first and only voluntary, but legally binding greenhouse gas emission reduction and trading program. IncubEx, a privately held company founded in 2016 with offices in Chicago and London, is uniquely positioned to capture these opportunities globally with its partners. For more information, please visit https://theincubex.com/.