Today, the European Commission suspended transfers at all European Emissions Trading Scheme Registries until at least January 26, 2011. The suspension is due to recent security breaches at certain EU member state emissions registries. The UK Greenhouse Gas Emissions Trading Scheme Registry, which is the standard delivery facility for the Exchange’s Daily European Union Allowance (EUA) Futures (code EUL) contract, is subject to the suspension.
In light of these developments and in accordance with Exchange Rule 402.C. (“Emergency Actions”), the Exchange convened a Business Conduct Committee panel (the “Committee”) to review this matter. Pursuant to the Committee’s authority, the Exchange has determined to take the following actions immediately with respect to its Daily European Union Allowance (EUA) Futures (code EUL; Chapter 841) contract listed on CME Globex and CME ClearPort:
· Declare Force Majeure with respect to delivery for the January 19, 2011 contract day. Delivery for this contract will resume once suspension of delivery transfers at the UK Greenhouse Gas Emissions Trading Scheme Registry has been lifted.
· Delist the January 20, 2011 contract day.
· Halt listing of new contract days until such date the suspension of delivery transfers at the UK Greenhouse Gas Emissions Trading Scheme Registry has been lifted.
Please refer questions on this subject to:
Energy Research & Product Development:
Brad Leach firstname.lastname@example.org 212.299.2609
Glenn Hofferber email@example.com 212.299.2884
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