New York-based exchange platform Xpansiv said its two new contracts — C-GEO-1 and C-GEO-2 — were traded by 13 companies on Jan. 5, their first day of trading. The companies included Chevron USA Inc., Carbon Growth Partners, EKI Energy Services Ltd., Fathom Energy LLC, Mercuria Energy America, LLC, Radicle Group Inc and Viridios Capital. According to Xpansiv, the C-GEO-2 contract traded a total of 117,207 credits in 21 transactions. Traded prices ranged from $6.80-$7.00/mt. The C-GEO-1 contract saw 10,000 mt traded at $6.30.
“The GEO, NGEO and the C-GEO contracts will be benchmark contracts,” said Russell Karas, Head of Carbon Market Development at CBL. “Similar to the way the GEO and N-GEO provide a price everyone can see, the C-GEO contracts will add transparency.”
A [trader] source said he had not begun trading yet but was tracking volumes and prices. “I think we will start seeing this as a benchmark for pricing and hopefully more liquidity.”