CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of the derivatives industry's first-ever Sustainable Clearing service to help market participants track and report on how their hedging activities are advancing their sustainability goals. The service will be available from
Sustainable derivatives encompass both the trading of products such as carbon offsets, battery metals and bioenergy as well as interest rate and foreign exchange futures hedging activity that is carried out to support a sustainable business.
"Sustainability continues to be an increasing priority for our global clients as they significantly expand both the risk management that they provide to green businesses and environmental projects," said
"This innovative clearing offering makes it simple for firms to track their sustainable derivatives positions by seamlessly integrating reporting into their existing workflows," said
"As the bank for a changing world, we consider it our duty to assist our clients in reaching their sustainable related goals through the Sustainable Clearing service," said Raphael Masgnaux, Global Head of Prime Solutions and Financing and G10 Rates,
"As a firm believer in how finance can catalyse a positive impact on our environment, Standard Chartered is delighted to have contributed to CME's Sustainable Clearing solution and support the sustainable agenda of market participants," said
All participating futures commission merchants will be provided with Sustainable Clearing eligibility criteria to identify and tag their sustainable trades. The eligibility criteria will be aligned to external standards, such as the
The criteria and governance of Sustainable Clearing will be administered by
For more information on Sustainable Clearing and details on how trades will be defined and allocated please visit: www.cmegroup.com/sustainable-clearing.