The Chicago Climate Exchange, or CCX, was the longest-running greenhouse gas emission reduction program in North America, and it was the first cap-and-trade program in the United States. The program ran from October 2003 until February 2012. A winding down of operations was scheduled to occur through August of 2011. A sister operation, the Chicago Climate Futures Exchange, closed all contracts as of February 2012.
CCX was a voluntary offset and cap-and-trade program for projects in North America and Brazil. Emission reductions of participating members were independently verified in the following six different categories of greenhouse gas: carbon dioxide, hexaflouride, hydrofluorocarbons, methane, nitrous oxide and sulfur. All companies who joined the exchange pledged to reduce their overall emissions by at least 6 percent by 2010. Notable members of the exchange include DuPont, Ford, Amtrak and the University of California.
According to Intercontinental Exchange, from 2003 to 2010, the exchange was operated by Climate Exchange PLC, a private company. In 2010, it was acquired by Intercontinental Exchange, Inc. Wikipedia explains that the final Carbon Financial Instruments trading position was reached later that year when the price for a carbon credit, per metric ton of carbon dioxide, reached less than ten cents; this was a small fraction of what it had been worth just two years earlier.