APX, Inc., a leading provider of infrastructure solutions to the environmental and energy markets, and CBL Markets, the leading spot exchange operator for environmental commodity markets, today announce a strategic partnership to launch spot US Renewable Energy Certificate (REC) contracts on the CBL Markets exchange.
CBL Markets enables market participants to spot trade multiple environmental commodities including emissions allowances for the California Cap-and-Trade Program and Regional Greenhouse Gas Initiative (RGGI). CBL Markets will connect into the APX’s Environmental Management Account (EMA) and associated REC registries to provide spot REC contracts across all major programs.
“As a pioneer in the REC industry, we are very excited to see REC markets grow in liquidity and transparency”, said Joe Varnas, CEO at APX. “This technology integration is the next step forward for the renewables market, providing a seamless, centralized venue to electronically access RECs.”
This new partnership will make CBL Markets the first trading venue to provide electronically cleared and same-day settled spot US RECs.
“By connecting CBL Markets to APX’s infrastructure, participants and brokers will be able to access spot REC products efficiently and cost-effectively, via enhanced price discovery and continuous trading contracts” adds Nathan Rockliff, Managing Director, North America at CBL Markets. “This partnership will help generate much-needed liquidity across renewable energy markets by enabling counterparties to confidently and efficiently transact with one another.”
APX and CBL Markets plan to explore additional partnership opportunities in the global renewable energy markets in 2017.
This announcement follows a record trading month for CBL Markets in December and a number of recent product launches as well as APX’s registry infrastructure expansion to launch TIGRs.
For over 15 years, APX has been the trusted infrastructure and services provider to the power and environmental markets. APX’s experience intersects every aspect of the renewable energy and voluntary carbon markets. Our proprietary grid scheduling, settlement and dispatching systems integrated with SCADA and forecasting, provide a full suite for renewable energy generators getting inter-connected. We operate over 13 renewable and carbon registries worldwide. More than 2,000 companies globally rely on APX products and services for integrity in environmental markets with more than 1 billion credits transacted. For more information please visit apx.com.
About CBL Markets
CBL Markets provides market participants with access to the world’s environmental commodity markets. With a vision of bringing efficiency, transparency and liquidity to environmental markets, our new multi-product exchange connects buyers and sellers around the world to facilitate the secure and seamless trading of environmental commodities, including Compliance Carbon, Voluntary Carbon, Renewable Energy and Water. For more information please visit cblmarkets.com or follow us on Twitter (@cblmarkets).
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