Pending all relevant regulatory review periods, effective June 18, 2012, GreenX will amend language in the Definitions and Exclusion of Liability clauses for certain European Union Allowance and Certified Emission Reduction Futures Contracts. These amendments are being made to conform to the recent European Union Registry infrastructure changes. The changes are applicable to the GreenX European Union Allowance and Certified Emission Reduction Futures contracts only.
As previously described in GreenX Notice to Participants # NP-2012-11, dated May 29, 2012, the European Commission announced on April 27, 2012, the full activation of the EU Emissions Trading Scheme single registry and the migration of thousands of EU ETS accounts from national registries into a Union Registry. This change from individual Member State registries to a single registry for emission allowances was made to ensure improved market operation and increased registry security. Consequently, the Exchange is amending the rules in Exhibit A herewith to update the terms within the Definitions and Exclusion of Liability clauses for certain European Union Allowance and Certified Emission Reduction contracts in order to reflect the consolidation of national registries into a single Union Registry. Please note that the recently adopted European Union Aviation Allowance (EUAA) Futures (Rule 1108) and Emission Reduction Unit (ERU) (Rule 1110) contracts already contain the updated references to the Union Registry.
The rule amendments in Exhibit A are summarized as follows:
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