Chicago Climate Exchange appoints The Clearing Corporation

The Clearing Corporation, the Chicago-based trade clearing agency, has been appointed to act as clearing house and central counterparty for the Chicago Climate Exchange's proposed futures exchange.

The appointment of a clearing agent is crucial for the Chicago Climate Exchange, which operates a market for trading carbon emissions, to launch a regulated futures exchange. It has applied to the US futures regulator, the Commodities and Futures Trading Commission, to open the new division.

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