VER trading activity was rampant last week with several large tenders circulating the market. Increased pressure on pricing due to an oversupply of projects drove the value of recent vintage issued Chinese and Indian RE VCUs to sub $3 levels, with non RE credits trading at sub $2. Exotic non-US RE VCUs are holding at around $4.25. Demand for all types of US credits continues to expand. US VCS and CAR CRT offsets are being eyed for pre compliance with 5 year forward strips of methane projects dominating buyer mandates. Issued OTC CRTs are $6/$7 with forward strips $5.50/$6.50 bid/offered. The Dec 2009 CCX traded CRT contract settled at $5.05 Friday down from $5.90 last week.