Emsurge digitalises the over-the-counter market. We are non-transactional: EOM gives you the tools to discover, negotiate and document a deal, and the transaction itself happens where you choose — contracted bilaterally OTC, or given up to an exchange for clearing. We don't compete with the exchanges; we work with them, handling the pre- and post-trade workflow around the trade.
Where EOM sits
Indicative price discovery, negotiation, venues, marketplaces and documentation — across Carbon, LNG, EAC and Biodiversity. The opaque, spreadsheet-and-chat workflow, brought into one live platform.
EOM provides the tools to make transactions happen — it doesn't take the other side. At the point of trade you decide how to settle: bilaterally, or given up to an exchange for clearing.
Trades struck on Emsurge have been given up for clearing on CBL, CIX and ACX, and we've partnered with CIX on CORSIA Auctions. We sit upstream of the exchange — a precursor and complement, not a competitor.
EOM & the exchanges
EOM and the exchanges do different jobs in the same market. We cover the pre- and post-trade workflow and indicative discovery; the exchange provides execution and clearing for standardised contracts. Most deals can flow from one to the other.
| Capability |  | Central exchanges |
|---|---|---|
| Primary role | Digitalises OTC — discovery, negotiation, venues & documentation (non-transactional) | Execution & clearing of standardised contracts |
| Where the trade settles | Your choice — bilateral OTC, or given up to an exchange | On-exchange / cleared |
| Coverage | Carbon · LNG · EAC · Biodiversity | Multi-commodity |
| Indicative price discovery & negotiation | Yes — live indicative orders + venues | Firm, standardised order book |
| Venues & cross-venue Aggregator | Yes — replaces portfolio spreadsheets | Single central venue |
| Project, ratings & registry context | Yes — enriched project data with Sylvera, Calyx & Renoster ratings | Limited |
| Auctions | Yes — incl. CORSIA Auctions with CIX, on an OTC or CIX-cleared basis | Exchange auctions |
| Give-up for clearing | Yes — give up Emsurge trades to CBL, CIX or ACX | Native clearing |
| AI / MCP agent access | Yes — live MCP server5 | None we're aware of |
| RFQ — request for quote | Coming soon | Exchange RFQ |
| RFP — request for proposal sourcing | Coming soon | — |
| Access to counterparty network | Yes — connect with counterparties across the member network | Member network |
Working together
The exchanges are building tools to improve trade efficiency, and the OTC desks that run on EOM use them every day. EOM is where the deal is found and shaped; the exchange is one of the places it can settle.
Trades conducted on Emsurge have been given up for clearing on CBL, CIX and ACX — OTC discovery and negotiation on EOM, exchange clearing where the parties want it.
We've partnered with CIX to offer CORSIA Auctions: auction hosts can invite participants to bid on an OTC or CIX-cleared basis. See how auctions work →
Venue hosts like Emstream rely on the exchanges to close deals fast, or where bilateral credit doesn't work — another route to settlement, alongside OTC.
Sources & legal
Scope. Emsurge Open Markets (EOM) is a product of emsurge limited. This page describes how EOM relates to central exchanges as a category, not to any named company or product. Third-party names referenced (including CBL, CIX and ACX) are the property of their respective owners; mentions of give-up, clearing or partnership describe activity that has taken place and imply no broader affiliation or endorsement beyond what is stated.
Basis of comparison. Statements comparing EOM with the exchange category are honest statements of opinion and fact, generalised from publicly available information as of June 2026. Individual providers vary and products change over time; category-level comparisons necessarily simplify.
"No other major carbon trading platform" claims. Where we state that a capability (such as native AI / MCP access) is offered by no other major carbon trading platform, this reflects our review of the leading platforms' publicly available product materials as of June 2026 and is our honest opinion on that basis.
"Coming soon". Features marked "coming soon" (RFQ and RFP sourcing) are in development and not yet available; timing may change.
No warranty / not advice. This page is provided for general information on an "as is" basis and constitutes neither a warranty nor financial, investment, legal, tax or trading advice, nor an offer or solicitation. To the fullest extent permitted by law, emsurge limited accepts no liability for any loss arising from reliance on it.
Corrections. If you believe anything here is inaccurate or out of date, please contact [email protected] and we will review and, where appropriate, promptly correct it.
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