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A New Exchange Experience
Modern Trading for Commodities Markets
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Trade With Us
Initiativ is built on a modern, digital infrastructure designed to make trading more accessible, faster, more transparent, and less costly.
EUA Spot & Futures
New contracts, low fees. Contact us to hear more.
Options
Options on EUA futures.
Other commodity contracts
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As our platform grows, the same benefits will be extended to options and a broader range of commodities. We started with EUA spot and futures, because that's the market where these improvements matter most today and where a lot of capital can be unlocked.
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Step Into The Next Generation Of Exchanges: InEx by
The First Commodity Exchange Native to Digital Settlement Rails
Experience a new standard in exchange performance.
From carbon to the full spectrum of commodities, InEx delivers trading and settlement natively on digital infrastructure: instantaneous, transparent, and built for a future-proof capital markets ecosystem.
The World’s Most Liquid Carbon Market The EU ETS
$ 1 Trillion +
in nominal value transacted annually on exchange
1 BN EUA
annual compliance demand for EUA
Yet 95%
of compliance entities are locked-out of exchanges
InEx is built for Traders, Compliance Entities & more
Emissions Trading System have evolved. Initiativ reflects the new reality of the market.
Banks, Funds & Traders
Looking to optimise margin requirements, unlock working capital, or find fresh trading opportunities with innovative Futures specs?
Discover more
Transport
Are EUA requirements quietly raising your operating costs as fuel prices climb and free allocations disappear? Are you ready for ETS2?
Discover more
Heavy Industries
Are tightening emissions rules and price volatility reshaping how your business manages compliance?
Discover more
SaaS Companies
Calculating your users' CBAM, EUA, or cargo emissions exposure but stopping short of execution?
Discover more
Market Makers
Interested in bringing liquidity on our platform? Or interested in hearing about our partnership opportunities?
Discover more
We’ve Answered the Most Common Ones Here.
We’ve made it simple. Trade instantly, schedule your procurement, and generate yield, all in one place.
Do I need to be a compliance entity to participate?
No. Initiativ is open to both EU ETS compliance entities (including industrial installations, power generators, aviation and maritime operators) and financial participants such as banks, trading firms, asset managers, hedge funds and carbon brokers. Firms can apply for direct membership provided they meet our admission criteria and complete onboarding and KYC/KYB checks. Our onboarding team can help you understand the requirements for your regulatory status.
What products can I trade on Initiativ?
At launch, Initiativ offers EU Allowances (EUAs) in spot, futures and options. Our infrastructure is built to add further instruments over time, including ETS2 allowances once that market opens.
What's the minimum trade size?
Just 1 EUA, equivalent to 1 tonne of CO₂e, on our spot market. Unlike traditional exchanges where the standard lot is 1,000 EUAs, Initiativ lets you trade spot at any size. This makes carbon markets accessible to a much broader range of participants, from large industrials managing precise compliance positions to smaller operators and new entrants who previously couldn't participate efficiently. Futures and options trade in the standard lot size of 1,000 EUAs (1,000 tonnes of CO₂e).
Does Initiativ offer tools for risk management or price alerts?
Yes. The platform includes real-time price monitoring, configurable alerts, and pre-trade risk controls. Our infrastructure is built for professional participants who need fast, reliable execution and clear visibility of their positions, with API access available for automated trading and integration into existing risk systems.
Do I have security over my assets?
Yes. You retain full legal ownership of your assets at all times. Your cash is held by our clearing partner, as custodian, in a segregated account with a trusted banking partner. Your emission allowances are held in the EU's dedicated Union Registry, where they can only be accessed by our clearing partner on your behalf.
What are the fees to trade on Initiativ?
Initiativ offers tiered pricing designed to be significantly more competitive than the market standard. Get in touch for a fee schedule tailored to your trading profile.
How does margin work on Initiativ?
Initiativ's digital clearing architecture optimises initial margin in real time, so less of your capital sits locked up than on legacy venues. Contact us for full details on margin requirements.
Can I become a market maker on Initiativ?
Yes — Initiativ runs a dedicated market making programme with commercial incentives for qualifying participants. Reach out via Contact Us to learn more about eligibility and terms.
Is Initiativ regulated?
Initiativ is on track to be regulated by the AMF, pending finalisation of our Central Clearing Partner. Contact us for the most current information on our regulatory status.