Page 37 - 期货和衍生品行业监管动态（2024年9月刊）

期货和衍生品行业监管动态

CFTC 的指导意见认识到，明确指出指定合约市场在合约设计和上市过程中

需要考虑的因素，可能有助于推进自愿碳信用衍生品合约的标准化，从而促进透

明度和流动性。该指导意见反映了 CFTC 通过公众的意见获得的见解，并标志着

CFTC 与多元市场参与者历时五年的合作的结果 。这些参与者包括农业利益相

关者、牧场主、林业工人、土地所有者、商业终端用户、能源市场利益相关者、

专注于排放交易的实体、CFTC 注册的交易所和清算机构、碳信用评级机构、信

贷计划（crediting programs）、公共利益团体、学者及其他自愿碳市场中的关键利

益相关者。

CFTC Approves Final Guidance Regarding the Listing of Voluntary Carbon

Credit Derivative Contracts (2024/9/20)

The Commodity Futures Trading Commission today approved final guidance

regarding the listing for trading of voluntary carbon credit derivative contracts. The

guidance applies to designated contract markets (DCMs), which are CFTC-regulated

derivatives exchanges, and outlines factors for DCMs to consider when addressing

certain Core Principle requirements in the Commodity Exchange Act (CEA) and

CFTC regulations that are relevant to the listing for trading of voluntary carbon credit

derivative contracts. The guidance also outlines factors for consideration when

addressing certain requirements under the CFTC’s Part 40 Regulations that relate to
the submission of new derivative contracts, and contract amendments to the CFTC.

“The Commission’s final guidance announced today is the product of a strong

public-private partnership that I have strived to achieve with both the CFTC’s

traditional stakeholders as well as a variety of voluntary carbon market stakeholders

to support transparency, liquidity, and market integrity in the VCC derivatives markets

as well as ultimately drive standardization and efficient capital allocation to scale the

underlying cash market for high integrity VCCs,” said CFTC Chairman Rostin

Behnam. “The CFTC’s unique mission focused on risk mitigation and price discovery

puts us on the front lines of the now global nexus between financial markets and

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