Abaxx and Climate Impact X Complete First Multi-Party Carbon Futures Delivery
Abaxx Technologies and Climate Impact X (CIX) have completed the first multi-party physical delivery under the Abaxx Exchange CORSIA Phase 1 Carbon Offset Unit Futures (CP1) contract, marking a significant milestone for the voluntary carbon market and highlighting growing commercial adoption of carbon futures trading.
The delivery, completed on 3 July 2026, involved 120 lots and marked the first carbon futures settlement on Abaxx Exchange to include Climate Impact X as an eligible custodian. The transaction brought together four market participants from the United States, the United Kingdom and Singapore, including investment and environmental asset firms, with three matched transfers of eligible CORSIA Phase 1 carbon units across the Verra and ART registries. Clearing services were provided by KGI Securities and StoneX.
The successful settlement reflects increasing momentum behind the Abaxx CP1 futures market as demand grows for transparent pricing and effective risk management tools linked to international carbon markets. Trading activity has accelerated sharply since the contract was launched in June 2024, with CP1 futures recording 23,747 contracts traded during the first half of 2026, compared with just 310 contracts during the second half of 2025.
Market liquidity has also strengthened, with average daily trading volumes reaching 198 contracts in the first quarter of 2026 and 192 contracts in the second quarter. Average daily open interest more than doubled over the same period, rising from 79 contracts to 173, signalling increased participation and confidence among market participants.
The CP1 contract was developed to provide price discovery and hedging capabilities for organisations managing compliance obligations under the first phase of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which covers the 2024 to 2026 compliance period.
Ellery Sutanto, Chief Commercial Officer at Climate Impact X, said the delivery demonstrated growing market demand for common infrastructure that gives participants greater flexibility in how they hold and manage carbon credits. He added that connecting futures and spot markets through shared infrastructure could help create deeper liquidity, wider market participation and more efficient capital flows to support global decarbonisation efforts.
Joe Raia, Chief Commercial Officer at Abaxx Exchange, said the successful delivery highlighted the CP1 contract’s ability to support settlement of eligible carbon units while providing practical risk management solutions for participants with CORSIA-related carbon exposure.
The milestone comes as global carbon markets continue to mature, with exchanges and market infrastructure providers seeking to improve transparency, liquidity and confidence in carbon trading. The inclusion of Climate Impact X as an eligible custodian expands settlement options for market participants and represents another step towards creating a more efficient and interconnected global carbon market.
With trading volumes and open interest continuing to grow, the latest delivery is expected to strengthen confidence in the Abaxx CP1 futures contract as demand increases for market-based solutions that support carbon compliance and international decarbonisation objectives.
