• Union Registry Closure Notification for Conversion of Phase 2 Allowances to Phase Allowances and Delisting of Daily EUA Contracts

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 13-244
      • Notice Date
      • 24 May 2013
      • Effective Date
      • 24 May 2013
    • Please be advised the Union Registry will be closed Monday, July 1, 2013 through Sunday, July 7, 2013due to the Union Registry’s banking process. The banking process involves the conversion of Phase 2 allowances to Phase 3 allowances.  As a result of the Union Registry’s closure beginning July 1, 2013 through July 7, 2013, delivery in the Daily European Union Allowance (EUA) futures (commodity code EUL) contract days Thursday, June 27, 2013 through July 4, 2013 cannot take place. As such, the Exchange will delist EUL contract days Thursday, June 27, 2013 through July 4, 2013 for which there is no open interest.
      In addition, there will be no impact to the delivery timeline for any other June 2013 deliverable emission contracts. Please see the following advisory for contract timelines: http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv13-324.pdf.
      As a reminder, any firm going through delivery must have a “trading account” at the Union Registry and must have the account trusted with CME Group’s account. If a clearing firm anticipates delivery and has a trading account that is not trusted with CME Group, please alert Deliveries at least 10 business days prior to a contract’s intent date.  This will allow enough time for the accounts to be trusted due to the Union Registry’s holding period of 7 business days before accounts become trusted.
      For further information on the Union Registry’s upcoming closure, please refer to the following Climate Action Notification:
      If there are any questions, please contact Deliveries at 312-930-3172 or clearinghousedelivteam@cmegroup.com.

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