The European Commission has announced the full activation of the EU Emissions Trading Scheme single registry and migration of thousands of EU ETS accounts from national registries into the new Union Registry. The Union Registry transition period is scheduled for June 3, 2012 through June 20, 2012. During this time, the operation of national registries and the Union Registry will be suspended and account holders will not be able to access registry accounts - including allowances held in these accounts; transfers will not be allowed through the registry(ies). Consequently, deliveries of certain Green Exchange LLC (GreenX) products will be affected during the Union Registry transition period. As a result, effective immediately, GreenX is delisting certain contract days and contract months in accordance with the table below.
|Contract||Globex Code||ClearPort Code||Delisted Contracts|
|Daily European Union Allowance (EUA) Futures||EUL||EUL||Contract day May 31, 2012 through contract day June 20, 2012|
|In Delivery Month (IDM) EUA Futures||EAF||6T||Contract month June 2012|
|IDM Certified Emission Reduction (CER) Futures||CRE||6S||Contract month June 2012|
|IDM EUA Options||EAX||6U||Contract month June 2012|
|IDM CER Options||CRY||6P||Contract month June 2012|
|Emission Reduction Unit (ERU) Futures||REU||REU||Contract month June 2012|
|ERU Options||ERO||ERO||Contract month June 2012|
With the creation of the Union Registry, new security features and process requirements will be implemented. Account holders will have to comply with increased documentation requirements and security features to access the transferred accounts in the single Union Registry. Account holders will not be able to transfer any allowances until all necessary documentation requirements are completed. The upcoming changes are summarized below. For detailed information on the new features and requirements, please refer to the European Commission advisory at the link below.
Union Registry will extend the delivery timeframe. CME Clearing will work with clearing member firms through the new process to ensure delivery. This functionality will become available later this year. We will provide further information once it becomes available.
Clearing member firms are reminded of their responsibility to assure their ability to fulfill contract obligations according to CME Group rules.
If there are any questions, please contact:
Managing Director, Global Product Development
Tel: +44 20 7464 4182
Tel: +1 212 299 2569