CCX carbon credits may gain SPDC status
The Commodity Futures Trading Commission (CFTC) has issued a Notice of Intent to determine if the Chicago Climate Exchange's (CCX's) Carbon Financial Instrument (CFI) performs a significant price discovery function.
The CFTC issued the notice on August 14, 2009, and has asked for public comment, due no later than 15 days from the Notice of Intent's date of publication in the Federal Register.
If the CFTC decides the CFI is a significant price discovery contract (SPDC), the contract and any relevant market participants would be subject to the Commission's position limit and emergency authorities and large
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