tph brochure[1]

8/8/2019 TPH Brochure[1]

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Chicago Climate Futures ExchangeChicago Climate Futures Exchange

2009 Chicago Climate Exchange , Inc.


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A Tradin Privile e Holder (TPH) is a

person or entity who owns trading



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A wholly owned subsidiary of the Chicago ClimateExchange (CCX) and a member of the ClimateExchange PLC (LSE: CLE.L) group of companies.

NFA MarketSurveillance

Offers a suite of environmentally related products,

including standardized and cleared futures andoptions on emission allowances, equity index futures CFTCp , q yand insurance based derivatives.

Climate Exchange PLC companies own and operate the worlds

Regulated

leading exchanges specializing in environmental asset classes,including emissions, weather and insurance-related products.

Cleared viaThe Clearing



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Emissions Products Sulfur Financial Instrument (SFI ) Futures and Optionsulfur Financial Instrument (SFI ) Futures and Options Nitrogen Financial Instrument - Ozone Season (NFI -OS) Futures Nitrogen Financial Instrument - CAIR Annual (NFI -A) Futures and Options Regional Greenhouse Gas Initiative (RGGI) Futures and Options Carbon Financial Instrument (CFI ) Futures and Options Carbon Financial Instrument ( CFI-EA) Futures

U S Carbon Financial Instrument (CFI US ) ) Futures & Options.S. Carbon Financial Instrument (CFI-US ) ) Futures & Options U.S. Carbon Financial Instrument ( CFI-USO )Futures California Climate Action Reserve Tons (CCAR-CRT ) Futures and Options

Equity-Index Products ECO-Clean Energy Index (ECO) Futures Dow Jones Sustainability World Index (DJSI-W) Futures *

IFEX Insurance U.S. Tropical Wind ($10,$15,$20,$25, $30, $40 ,$50, $60,$75, and $100 Billion) Florida Tropical Wind ($10,$15,$20,$25, $30, $40 ,$50, $60,$75, and $100 Billion) Gulf Coast Tropical Wind ($10,$15,$20,$25, $30, $40 ,$50, $60,$75, and $100 Billion) Northeast Tropical Wind ($10,$15,$20,$25, $30, $40 ,$50, $60,$75, and $100 Billion)

Eastern Seaboard Tropical Wind ($10,$15,$20,$25, $30, $40 ,$50, $60,$75, and $100 Billion)Renewable Energy Products New Jersey Renewable Energy Certificate (REC-NJ) Futures Connecticut Renewable Energy Certificate (REC-CT) Futures Massachusetts Renewable Energy Certificate (REC-MA) Futures


Voluntary Renewable Energy Certificate (REC-V) Futures

"Dow Jones, World Sustainability IndexSM" are service marks of Dow Jones & Company, Inc. Dow Jones has no relationship to the Chicago Climate Futures Exchange, other than thelicensing of the Dow Jones Wor ld Sustainability Index and its service marks for use in connection with the Dow Jones World Sustainability Index Futures products.


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Transact directly in the CCFE markets Receive reduced transaction fees (20%)

Become a Clearing Member

Invest in a limited commoditynvest in a limited commodity

Gain access to CCFE several incentive programs across a wide

i f dariety of products



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Limi Av il iliLimi Av il ili Of 425 total TPHs, less than 25 are available

Current Price of $150,000 per TPH After these final TPHs are sold, ALL TPHs will become transferable

CCFE will initiate markets for both selling and leasing TPHs within 90 daysCFE will initiate markets for both selling and leasing TPHs within 90 daysof the final TPH being sold

Once a secondary market is initiated, a minimum of two TPHs will berequired to become a clearing member

Discounts are available for multiple TPH purchases as follows: 10% discount for 2 nd TPH purchase 15% for 3 rd-5 th

20% for 6 th-10 th

25% for any further purchases



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Volume Growth:

2005 - 171 contracts 2006 28,924 contracts 2007 283,758 contracts

2008 484,320 contracts2009 1 372 579 contracts009 1,372,579 contracts

Open Interest Growth: 2007 Start 3,822 contracts

2008 Start 43,880 contracts 2009 Start 61,420 contracts 2/4/2010 103,4628 contracts


/ /

*As of 2/4/2010


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CCFE Open Interest Snapshot*as of 02/3/10

US EPA Clean Air Markets

SO2 Futures and Options 47,896 contracts(1,197,400 allowances)

NOx Futures and Options 12,320 contracts (12,320 allowances )

C b P d t Carbon Products RGGI Futures and Options 26,850 contracts (26.9M allowances)

CFI Futures and Options 6,807 contracts (6.8M allowances) CFI-US Futures and Options 1,901 contracts (1.9M allowances) CRT Futures and Options 560 contracts (560,000 allowances)

Renewable Energy Certificates RECs

NJ Class I Futures 2,310 contracts (231,000 MWh) CT Class I Futures 500 contracts (50,000 MWh) MA Class 1 Futures 80 contracts (8,000 MWh)



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JP Morgan Projects CCFE to Trade Nearly 1mm



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R ni i nR ni i n

I ti ti g b k t ld b th $2 t illi i t tiIm estimating carbon markets could be worth $2 trillion in transaction

value money changing hands within five years of trading (starting).That would make it the largest physically traded commodity in the US,surpassing even oil.gBart Chilton, a Commodity Futures Trading Commission (CFTC) commissioner,who's also chairman of its energy and environmental markets advisorycommittee

To deal directly with climate change, something we failed to do in thelast energy bill, we should use a market-based strategy that gradually

reduces harmful emissions in the most economical way Right here ineduces harmful emissions in the most economical wayRight here inChicago, the Chicago Climate Exchange is already running a legallybinding greenhouse gas trading system.

President (then Senator, D-IL) Barack Obama, April 3, 2006


President (then Senator, D IL) Barack Obama, April 3, 2006


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