What is Initiativ

Initiativ is the first exchange purpose-built for industrial companies to trade emissions rights with guaranteed settlement, instant delivery of assets, and no unecessary middlemen.

It operates entirely on a permissionned, fully digital system, where settlement and delivery are handled automatically, reducing human error and removing operational bottlenecks. Unlike other platforms where the matching and settlement happen in separate systems, Initiativ integrates both directly into its core infrastructure.

What is a Payment-vs-Delivery System (PvD) ? It means the buyer pays and the seller delivers at the same time, ensuring a risk and delay-free trading experience. At Initiativ, this is achieved with a custom-built matching engine running on a dedicated, high-speed digital ledger, and a legally binding fiduciary trust that securely holds funds and assets until ownership transfer is complete.

A built-in settlement layer

In traditional markets, settlement (the final confirmation of a trade) is often handled outside the exchange by a clearinghouse or another third party.

Traditional Clearing System

At Initiativ, settlement is part of the exchange itself.

• All matching is processed on a digital registry that we operate

• Once a match is found, the system automatically locks payment and initiates delivery

• The entire sequence is fully automated, leaving no space for manual delays or inconsistencies

Why this matters

Because matching and settlement happen in the same digital environment:

• There’s no need for a separate actor, the clearinghouse

• Transactions are confirmed in sub-seconds, not days

• Compliance checks and ownership records are always up to date

For participants, this means faster access to assets, lower costs, and complete transparency over every transaction.

A New Exchange for the Energy Economy

Global energy and cap-and-trade markets are expanding quickly, but access remains complicated and expensive. Our mission is to create a new access where:

• Industrial companies become their own trading desk

• Market-makers bring liquidity to new players

• Regulators and exchanges connect seamlessly across borders

We want to create not just a place to trade, but a future-proof way to connect industrial markets with speed and reliability across borders.