The CDM Fire Exit
The CDM Registry closes.Your credits don’t have to.
CTX holds over 2 million CDM CERs in escrow for sellers on the exchange. Before the CDM Registry shuts on 31 December 2026, we will convert them into CTX CERs, so they stay listed, tradeable and retirable. The cost is 5 US cents per credit. Not on CTX yet? The offer is open to every CDM CER holder who joins by 30 October.
The official timetable
The clock is set by the UN, not by us
Under the CMP 20 decision taken at COP30 in Belém, the Clean Development Mechanism is being phased down. The secretariat has confirmed that no decision has been taken to extend these dates, and has told account holders not to assume one will be.
| Date | What happens | Status |
|---|---|---|
| 30 Jun 2026 | Deadline CTX set for CDM projects to migrate to the ITMO Registry and seek host-country Article 6 authorisation | Passed |
| 25 Oct 2026 | UNFCCC action date for requests to transfer eligible CERs to the Article 6.4 mechanism registry |
Approaching |
| 30 Oct 2026 | Last day for CDM CER holders not yet on CTX to join and qualify for the offer | Extended Final CTX deadline |
| 20 Nov 2026 | Last day to instruct CTX to convert your escrowed CERs, so we can file before the UN action date | Extended Final CTX deadline |
| 25 Nov 2026 | UNFCCC action date for CER cancellations and all other CDM Registry transactions | Approaching |
| 31 Dec 2026 | CDM Registry transactions end. The UN Carbon Offset Platform closes. | Final |
Source: UNFCCC CDM Registry notice to project participants and CDM Registry FAQs. The secretariat says it cannot guarantee completion of requests received after the action dates.
Is this you?
Your CDM CERs have nowhere to go
- You listed CDM CERs for sale on CTX and they are still held in our CDM Registry escrow account, or you hold CDM CERs elsewhere and can join CTX by 30 October.
- Your project has no Letter of Authorisation from its host country, and is unlikely to get one before year end.
- Your CERs don’t meet the eligibility rules for transfer to the Article 6.4 mechanism registry.
- Your buyers have gone quiet because they aren’t sure what happens to CDM CERs after 31 December.
If you do nothing
After 31 December 2026 the CDM Registry processes no more transfers, cancellations or retirements. CERs still sitting in the registry will have no route to a buyer and no way to be retired against a claim.
For most sellers, that means the full value of the holding is written off. Only credits that qualify for, and are accepted into, the Article 6.4 mechanism registry have a UN path forward.
How the conversion works
Five steps, and CTX does the registry work
Instruct
Sign the one-page conversion instruction for the CERs you hold in CTX escrow.
Pay
Pay US$0.05 per credit. 100,000 CERs costs US$5,000.
Cancel
CTX files the cancellation of those CERs in the CDM Registry before the 25 November action date.
Issue
An equal number of CTX CERs is issued to your account, carrying the original project ID, vintage and serial references.
Trade
Your CTX CERs are relisted on CTX at your price. Buyers can buy to retire or buy to transfer, 24/7.
Per-credit cost: US$0.05. Compare that with the value lost if the credits are stranded.
Your three options
Compare the routes out
| Do nothing | Transfer to Article 6.4 registry | Convert to CTX CERs | |
|---|---|---|---|
| Who qualifies | Anyone | Eligible CERs only, depending on registration date, vintage and host-country approval | Any CDM CERs in CTX escrow, including holders who join CTX by 15 Oct 2026 |
| Deadline | 31 Dec 2026, then nothing | Request by 25 Oct 2026 | Instruct CTX by 6 Nov 2026 |
| Cost | Loss of the holding | UN and host-country requirements apply | US$0.05 per credit |
| After 2026 | No transfers, cancellations or retirements | Held as units in the Article 6.4 mechanism registry | Listed and tradeable on CTX, retirable with a certificate |
| Paperwork | None | Your own filings with the UNFCCC and host Party | One instruction to CTX; we file in the CDM Registry |
Plain terms
What a CTX CER is, and what it isn’t
A CTX CER is
- A voluntary carbon credit issued 1:1 against a CDM CER cancelled from CTX escrow in the UNFCCC CDM Registry
- Traceable back to the original CDM project, vintage and serial range
- Held and tracked in GEM’s registry, with no transfer or retirement fees on CTX
- Tradeable on CTX and retirable with a public retirement certificate
A CTX CER is not
- A UNFCCC-issued CER, and not an A6.4ER
- Authorised by any host country under Article 6, or backed by a corresponding adjustment
- Eligible for compliance schemes that require UN-registry units
- Endorsed by the UNFCCC secretariat
We set this out plainly so your buyers know exactly what they are purchasing.
Why CTX
The CDM Registry’s commercial partner since 2017
CTX has been the only publicly named trading partner for UNFCCC CDM CERs on unfccc.int. We already hold your credits, we know the registry process, and we run the market your buyers use.
Questions
What sellers are asking
Why can’t I just wait for a UN extension?
The secretariat has said in writing that no decision has been taken to modify or extend the CMP 20 deadlines, that any change would need a decision by the governing body, and that stakeholders should not assume extensions will be granted.
My CERs might qualify for the Article 6.4 registry. Should I convert?
If your CERs are eligible and your host country will authorise them, the Article 6.4 route may suit you better. Requests must reach the UNFCCC by 25 October 2026. Talk to us first and we will help you decide which route fits each holding.
Can I convert part of my holding?
Yes. You choose the volume. Anything you don’t convert stays in escrow as CDM CERs and is subject to the 31 December 2026 closure.
What happens to my listing price?
Your CTX CERs are relisted at the price you set. You can change it at any time from your CTX account.
Do buyers pay registry fees on CTX CERs?
No transfer or retirement fees apply to CTX CERs traded on CTX. Normal CTX trading fees apply, or the flat Corporate One rate for members.
My CERs are not on CTX yet. Can I still use this?
Yes, if you join CTX by 15 October 2026. Open your account, we move your CERs into CTX escrow in the CDM Registry, and the same US$0.05 conversion applies. Contact us now: every CDM Registry request needs to be in well before 25 November 2026.
Act now
Instruct CTX by 6 November 2026
Email us with your CTX account name and the volume you want to convert. We will send the conversion instruction the same day. Not on CTX yet? Join by 15 October and we will open your account straight away.
