Chicago Climate Exchange (CCX) has closed the country’s first cap-and-trade system, The New York Times reports. The exchange’s trading in the allowances that the system generated, Carbon Financial Instruments (CFIs), to meet emission reduction commitments will also come to an end, though CFI generation will continue as a strictly voluntary greenhouse gas emissions offset system. CCX’s sister institutions, the European Climate Exchange and the Chicago Climate Futures Exchange, will not close even with the failure of cap-and-trade in the U.S. Congress. IntercontinentalExchange had announced the end of mandatory CFI trading by member companies in October 2010.
Click here for the story from The New York Times.