Xpansiv launches I-REC Spot Market with Robust Participation

17,500 International Renewable Energy Certificates (I-REC) traded by participants on three continents 

100,000 I-RECs posted to CBL spot platform for on-screen trading

NEW YORK, LONDON, SYDNEY Xpansiv, the leading market infrastructure provider for the global energy transition, today launched International REC Standard (I-REC) contracts on its CBL spot exchange. First-day volume totaled 17,500 I-RECs priced between $2.40 and $3.95.  

First-day participants included 3 Degrees, Carbon Financial Services, Carbon Solutions Group, EKI Energy Services Limited, Evolution Markets, Inc., and Marubeni Corporation. More than 20 companies signed up to trade I-RECs on CBL since the exchange opened product registration less than two weeks ago.  

CBL enables trading of any I-REC (Electricity) Product Certificates issued under the Evident Code for I-REC (Electricity) credits, which span a wide range of host countries, project types, and vintages. 

“The inclusion of I-RECs on the CBL platform will allow us to expand our participation and meet the needs of 3Degrees’ clients worldwide. This market development is an exciting opportunity to improve both liquidity and transparency for global EAC markets, ” Scott Eidson, Vice President of Environmental Markets at 3Degrees.  

Trading I-RECs on CBL’s spot exchange provides benefits of transparent price discovery, equal market access by all participants, the ability to trade with hundreds of counterparties without bilateral agreements as well as with prompt settlement and minimized counterparty credit and performance risks. All told, 100,000 contracts were posted to the CBL screen on the first trading day.  

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