Climate Impact X (CIX) – a global exchange for voluntary carbon credits announced a new partnership with Nasdaq (Nasdaq: NDAQ) that will aim to unlock price transparency and liquidity in the voluntary carbon market.
The agreement is for Climate Impact X to use Nasdaq’s matching technology to power its spot trading platform that will launch in early 2023. The trading platform will allow buyers and suppliers to trade large volumes of high-quality carbon credits.
Its goal is to enable resilient and dynamically scalable trading. To make sure buyers are getting quality credits, the spot exchange will match buyers and sellers based on unique requirements that meet the regulatory obligations among other needs.
It would also remove bottlenecks to supplier financing which would enable the growth and development of the global carbon markets.
The targeted users are financial institutions, institutional investors, corporations, and large-scale buyers that need easy access to transparent pricing signals and real-time market data for carbon credits.
According to Climate Impact X, Nasdaq’ cloud-based SaaS technology will bring cutting-edge trading functionalities to its carbon exchange platform.
“One of CIX’s goals is to create strong pricing signals for the liquid market. Enabling a trade matching process that is as seamless as possible will help to simplify the buyer’s journey and improve price transparency in the voluntary carbon market,” said Mikkel Larsen, Chief Executive Officer of CIX.
“Nasdaq brings unparalleled expertise in matching technology. We are pleased to join forces on our journey to build a global carbon exchange that is underpinned by quality and transparency,” added Mr Larsen.