ABOUT
The World’s Leading Spot Exchange for ESG Commodity Markets
CBL is a global exchange platform for transacting energy and environmental commodity products such as carbon, renewable energy, water, and natural gas. We connect buyers and sellers to trade multiple environmental products on one screen.


BENEFITS
Centralized Platform to Trade Products

FEATURED PRODUCT
A Clear Path to Carbon Neutral
Introducing the Global Emissions Offset™, a new way to trade carbon. The GEO provides companies with streamlined ways to meet compliance and voluntary carbon goals and to manage future price risk.
GEO spot and futures markets enable market participants to buy high-quality carbon offsets—without having to evaluate the vast universe of disparate offset projects. That’s because underlying every GEO contract is an offset that meets the stringent eligibility criteria defined by the International Civil Aviation Organization for CORSIA.
The GEO spot contract is traded on the CBL exchange and the GEO futures on the CME. Together, the contracts provide liquidity, transparent price discovery, risk transference mechanisms, and a reliable benchmark for the global carbon market.
Products
Renewable Energy: North America
CBL partners with environmental registries to facilitate the trading of compliance and voluntary Renewable Energy Certificate (REC) contracts, providing same-day clearance and settlement for:
- NEPOOL GIS
- PJM GATS
- ERCOT
North American Renewable Registry (NAR) CBL plans to launch contracts for MiRECS, NYGATS, NC-RETS and MRETs in 2020.
Products
Renewable Energy: Australia
CBL provides cleared spot trading for products associated with the Renewable Energy Target (RET) and Energy Efficiency Market in Australia.
- Large-scale Generation Certificates (LGCs)
- Small-scale Technology Certificates (STCs)
- Energy Savings Certificates (ESCs)
Products
Carbon: Offsets
CBL has operated in the carbon-offset market for more than a decade, and has access to 1000+ projects through partnership agreements with all major carbon standards and access to international products, including:
- Australian Carbon Credit Units (ACCUs)
- American Carbon Registry (ACR)
- Clean Development Mechanism (CDM)
- Climate Action Reserve (CAR)
- Gold Standard (GS)
- REDD.plus
- Verra (VCS)
Products
Carbon: Aviation
CBL partnered with the International Air Transport Association (IATA) to develop the Aviation Carbon Exchange (ACE). ACE provides a centralized marketplace that helps airlines identify, select, and transact both voluntary as well as CORSIA eligible emission units from the following programs:
- American Carbon Registry (ACR)
- Clean Development Mechanism (CDM)
- Climate Action Reserve (CAR)
- Gold Standard (GS)
- Verified Carbon Standard (VCS)
Products
Carbon: Allowances
CBL offers cleared spot trading of products associated with the Regional Greenhouse Gas Initiative (RGGI) and California Cap-and-Trade Program. Through a partnership with the CME Group, CBL also facilitates the trading of California Carbon Allowance Futures, centralizing the pool of liquidity for both contracts. Products for these programs include:
- RGGI CO2 Allowances
- California Carbon Allowances (CCAs)
- CME Futures Contracts for CCAs
Products
Emissions: CSAPR
CBL offers cleared spot trading of products associated with the Cross-State Air Pollution Rule (CSAPR), which addresses local air pollution from coal and natural gas power generation from upwind states that crosses state lines and affects air quality in downwind states. The emission products available for trading on CBL include:
- NOx Annual and Seasonal Allowances
- SO2 Group 1 & 2 and Acid Rain Allowances
Products
Differentiated Gas
As consumers demand more environmentally sustainable products, Xpansiv is leading the development of data-driven products, valued according to factors like methane emissions and water utilization. In 2019, CBL facilitated the first exchange-driven transaction for an energy commodity based on its environmental impacts. This product is available to trade as Trustwell Certified Responsible NatGas Certificates, certified by Independent Energy Standards (IES), a risk and responsibility ratings firm.
Products
Australian Gas
CBL partnered with the Tasmanian Gas Pipeline (TGP) to facilitate the trading of a range of gas-storage products on the TGP, with a view to increasing trading, transparency, and efficiency of Australian gas and energy markets. The partnership allows for trading of the following products:
- Primary capacity
- In-pipe loan gas
Products
Australian Water
The H2OX water market helps balance competing demands for scarce resources, and ensures more efficient investment, allocation, and use of water. H2OX facilitates the trading of the following water products:
- Entitlements—rights to an ongoing share of water within a system
- Allocations—volumes of water distributed to users in a given year
- Parking—facilitating the movement of water allocations between seasons
- Options—physically settled water allocation call options to mange interseason water risk
- Leasing—long term leasing of water entitlements to secure access to the entitlement’s seasonal allocation
Joining the Exchange
Joining CBL is easy. Simply read the operating rules and procedures and complete the application form. After submitting your application, provide your supporting documentation and we will establish CBL product and cash accounts, and provide you with access to the exchange.
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Contact Us
AU: +61 2 8090 3434 | US: +1 833 972 6677 | info@cblmarkets.com | Suite 8.02, 28 O'Connell Street Sydney, NSW 2000, AUS
For media enquiries, please contact media@cblmarkets.com