CBL Markets

Name

CBL Markets

Legal name

CBL Markets (Australia) Pty Ltd

Website

https://cblmarkets.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Environmental Commodities Exchange

NAICS

Securities and Commodity Exchanges (523210), Commodity Contracts Intermediation (52316), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Carbon Exchanges & Trading Venues (Spot, forward, auction platforms) (EUABAAAB)

akta.pro secondary industries

Carbon Exchanges, Auctions & Trading Venues (Spot/Futures) (EUAGAIAE), Carbon Credit Portfolio & Inventory Management (Banking, Hedging, Optimization) (EUAGAIAG), Carbon Credit Brokerage & Trading (Spot, Forward, Structured Products) (EUABADAB), B2B Marketplaces & Wholesale Platforms (BPAMAGAD)

Keywords

• Environmental commodities exchange
• Carbon credit trading
• Renewable energy certificates
• Spot marketplace platform
• Emissions trading

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Environmental Commodities Trading Fees: CBL generates revenue through transaction fees on spot trades executed on its environmental commodities exchange platform. The marketplace matches buyers and sellers of RECs, carbon credits, and other environmental commodities, charging fees per transaction settled through the platform.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

CBL Markets operates a global spot exchange for environmental commodities, matching buyers and sellers of renewable energy certificates (RECs), carbon credits, and related instruments. It provides a transparent centralized order book with T+0 automated settlement integrated across registry networks.

Product overview

CBL Markets operates as the core CBL® exchange within the Xpansiv platform ecosystem. The platform-plus-modules architecture centers on the CBL® spot marketplace for environmental commodities, complemented by specialized exchanges (H2OX, ACE, JSE-V Carbon), market execution tools (OTX, Evolution Markets brokerage), portfolio management (Xpansiv Connect), market data (Xpansiv Data), and registry infrastructure (NAR, TIGR, Digital Fuels Registry). Managed solutions for solar SRECs and clean transportation credits round out the portfolio. The platform serves over 1,100 participants from 200+ organizations, processing 300 million tonnes of carbon since 2020 with T+0 automated settlement.

Differentiator

Problem solved

Functional benefit

Products and services

• CBL® (Carbon BLue) Exchange The world's largest and most active spot marketplace for environmental commodities, featuring a transparent matching engine and automated T+0 settlement for exchange and OTC trades across RECs and carbon credits. Serves institutional trading participants globally.
• H2OX Australian water exchange platform enabling trading of water entitlements and allocations as environmental commodities.
• ACE (Aviation Carbon Exchange) Exchange for CORSIA-compliant and voluntary carbon credits, serving the aviation industry's carbon offsetting requirements.
• JSE-V Carbon JSE marketplace for carbon credits and I-RECs (International Renewable Energy Certificates) operating in partnership with JSE Ventures.
• Evolution Markets Environmental markets brokerage, structured transactions, risk management, and net zero consulting services.
• Xpansiv® Connect™ Portfolio management and integration tool providing unified visibility and full lifecycle management of credits across 15+ registries covering renewable energy, carbon, and more.
• Xpansiv® Data™ Market data product providing CBL spot transaction and bid/offer data supplemented by spot and forward data from Evolution Markets.
• OTX Platform and market access for fuel-related commodities, part of Xpansiv's Market Execution offerings.
• NAR (North American Renewables Registry) Registry infrastructure for North American renewable energy certificates, enabling issuance, tracking, and transfer of RECs.
• TIGR (Tradeable IREC Global Registry) Global renewables registry infrastructure for tracking and transferring International Renewable Energy Certificates.
• Digital Fuels Registry Registry for clean fuel credits, enabling tracking and management of fuels and transportation environmental commodities.
• Xpansiv Managed Solutions - Solar (formerly SRECTrade) Managed solutions for SRECs (Solar Renewable Energy Certificates) serving residential and commercial segments.
• Xpansiv Managed Solutions - Clean Transportation (formerly SRECTrade) Managed solutions for clean fuel credits serving EV charging, fleets, and transportation operators.

Quantifiable outcome

• 300 Million Tonnes of carbon traded via CBL since 2020
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• EnveruscoreTechnology or Integration · 5 May 2026Xpansiv and Enverus expanded partnership to integrate Xpansiv CBL spot exchange transaction data and Evolution Markets forward indicative pricing into Enverus's MarketView platform. This creates a unified price discovery solution across energy and environmental commodity markets, consolidating previously siloed exchange prices, OTC broker assessments, and commodity data into a single workflow for trading and risk teams.
• Xpansiv ConnectcoreTechnology or IntegrationXpansiv Connect provides unified visibility and full lifecycle management of credits across 15+ registries covering renewable energy, carbon and more. Integrated with CBL trading platform for seamless workflow.
• Xpansiv DatacoreTechnology or IntegrationXpansiv Data provides CBL spot transaction and bid/offer data supplemented by spot and forward data from Evolution Markets for comprehensive price discovery and market intelligence.
• Evolution MarketscoreStrategic or Co-development PartnerEvolution Markets is the leader in environmental markets brokerage, structured transactions, risk management and net zero consulting services. Part of the Xpansiv ecosystem providing brokerage services and forward indicative pricing data to CBL.
• Xpansiv RegistriescoreTechnology or IntegrationXpansiv Registries provides the leading environmental commodities registry infrastructure for issuing, tracking, and transferring RECs, carbon credits and more. Integrated with CBL for automated post-trade settlement via integrated registry network.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• European Energy Exchange (EEX): EEX runs the world's largest spot and futures market for emission allowances (EU ETS primary and secondary auctions) and operates environmental registry infrastructure. It is the closest direct competitor to CBL for centralized environmental commodity trading in regulated markets.
• AirCarbon Exchange (ACX): ACX is a Singapore-based exchange for voluntary carbon credits and CORSIA-eligible units, offering both spot trading and standardized contracts. It targets the same VCM liquidity pool as CBL with a comparable exchange-trading model.
• Carbon Trade Exchange (CTX): CTX operates electronic exchanges for carbon credits, RECs, and white certificates across multiple jurisdictions. It offers a similar centralized order book model for environmental commodities targeting corporate and trading participants.

Broad incumbents

• Intercontinental Exchange (ICE): ICE operates global commodity exchanges and runs environmental products (ICE Endex for European power and emissions) plus a growing suite of carbon and REC contracts. It competes directly with CBL in providing regulated, exchange-traded access to environmental commodities.
• CME Group: CME lists environmental and emissions futures (including CBL-linked products and nature-based carbon futures) and serves as a global derivatives exchange. As a broad incumbent, it competes for environmental derivatives flow while providing adjacent commodity infrastructure.
• Nasdaq (Environmental Markets): Nasdaq has expanded into ESG and environmental markets infrastructure (e.g., Nasdaq Sustainable Bond Platform, carbon offerings). As a broad incumbent exchange operator, it competes with CBL in providing regulated venues and data products for environmental assets.

Others

• Gold Standard: Gold Standard is a leading carbon credit standards body whose certified credits are widely traded on CBL and competing venues. As a standards and registry operator, it sits in CBL's ecosystem rather than competing directly for transaction flow.
• Verra: Verra operates the VCS standard and registry, the dominant issuance infrastructure for voluntary carbon credits. It is an ecosystem participant rather than a direct exchange peer, but its registry and standards decisions materially shape CBL's addressable supply.

Emerging players

• Climate Impact X (CIX): CIX is a Singapore-based carbon exchange backed by DBS, SGX, Standard Chartered and Temasek, focused on high-quality voluntary carbon credits. It competes for the same institutional VCM flow as CBL but with deeper Asian financial backing.
• Carbonplace: Carbonplace is a digital carbon credit trading network formed by major banks (Standard Chartered, BBVA, BNP Paribas, CIBC, Itaú, Natixis, SMBC). It competes with CBL by leveraging bank distribution to onboard corporate buyers into carbon credit transactions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cblmarkets

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CBL Markets