Where Is CCX Going…and How Fast?
Unquestionably, starting a new market is a crapshoot. But after just five months of operation, Sandor says the Chicago Climate Exchange is more than meeting his expectations. “We expected to have about 20 members at this stage, but we have a couple more than 50. And we thought trading volume would be between one and two thousand metric tons daily, but we are doing between eight and nine thousand.” That early success, he indicates, is what pushed the time frame up for becoming a futures exchange later this year. Because of CCX’s airtight economic justification, it should be in perfect position for approval by the Commodity Futures Trading Commission when it makes its submission. Certainly Sandor’s background as chief economist of the Chicago Board of Trade in the ‘70s and subsequent high level positions make him understand what regulators are looking for in market transparency and all-important rules, potential fungibility with emerging “pollution” markets in other world centers – and t
