Page 37 - 期貨和衍生品行業監管動態（2024年9月刊）

期貨和衍生品行業監管動態

CFTC 的指導意見認識到，明確指出指定合約市場在合約設計和上市過程中

需要考慮的因素，可能有助于推進自愿碳信用衍生品合約的標準化，從而促進透

明度和流動性。該指導意見反映了 CFTC 通過公眾的意見獲得的見解，并標志著

CFTC 與多元市場參與者歷時五年的合作的結果 。這些參與者包括農業利益相

關者、牧場主、林業工人、土地所有者、商業終端用戶、能源市場利益相關者、

專注于排放交易的實體、CFTC 注冊的交易所和清算機構、碳信用評級機構、信

貸計劃（crediting programs）、公共利益團體、學者及其他自愿碳市場中的關鍵利

益相關者。

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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