With reference to Exchange and Clearing Information no 34/12 “Suspended trading and clearing of EUA and CER spot from 30 May”, NASDAQ OMX Commodities announces the reopening of trading and clearing of EUA and CER spot contracts on 9 October, 2012 at 08.00 CET.
With the reopening of the EUA and CER spot contracts, interim rules for trading and clearing of EUA and CER spot contracts have been implemented.
The purpose of the interim rules is to accommodate for and mitigate the effects on delivery and settlement associated with the recent introduction of the EU Emissions Trading System Union Registry (“Union Registry”). The interim rules are implemented pending final outcome of the infrastructure of the Union Registry. The interim rules will come into effect immediately and will remain in force until further notice
Under the interim rules the Clearinghouse changes the delivery and settlement from D+3 to D+5.
The interim provisions document can be found on http://www.nasdaqomxcommodities.com/trading/legalframework/
Please refer to the official website of European Commission for more information about the implementation of the Union Registry and the timetable: http://ec.europa.eu/clima/news/articles/news_2012091701_en.htm
Please note that the delivery point for all Allowance contracts is the Clearinghouse’s Union Registry account number EU-100-5012358-0-34.
Please observe that sellers of EUA and CER contracts must have access to an open account in the Union Registry at the time of their delivery obligations. The closing or unavailability of allowance account due to events that were foreseeable at the time of the transaction will not constitute an Allowance Force Majeure for applicable sellers. Allowances can be pre-delivered to the Clearinghouse’s Union Registry account as collateral for a net selling position.