It is expected that the registries in the UK, Germany and France will reopen either later this week or next week at the latest. The disruption of spot trading will not even dent a market where 90% of the volume is traded in derivatives, but the real damage is to the credibility of the system.

It's unlikely that the registries of countries where security measures are lax will reopen anytime soon or perhaps even ever. After all, reputable trading firms need not use those registries and all carbon credits can be securely kept in the registries of the countries where the main carbon exchanges are located ie. UK and France.