Template:M comp disc EUA Annex (d)(i)(1): Difference between revisions

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	~~'''~~{{euaprov\|~~Cash~~ Settlement}}''': Trick question. There ''is'' no provision for cash-settlement under the ISDA Emissions Annex. Will that stop counterparties asking you to specify a settlement method? Probably not. Does it matter? Also probably not. What if you ''want'' a cash settlement option? Not out of the ballpark — ones eligibility for EMIR, and as such hedge exempotions, might depend on whether the forward is cash settlable, in theory, or not. There is no good reason for this: it springs from the paranoid brow of those toiler legal counsel who trying to parse the [[De minimis threshold test\|~~eligibility or Emissions derivatives under the refitted delegated regulations of MiFID 2]] — our advice is just don’t go there — but you just never know.~~		{{emissions comparison\|{{euaprov\|Settlement}}\|{{efetaprov\|Delivery, Acceptance and Scheduling Obligations}}\|{{ietaprov\|Primary Obligation}}}}

	'''[[Situation normal]]... ''': Techy drafting slip from {{icds}}: “Number of Allowances to be Delivered” isn’t a thing: there is “{{euaprov\|Number of Allowances}}”, which is the notional size of the {{euaprov\|Transaction}}, and then there is {{euaprov\|Allowances to be Delivered}} which references the particular number of Allowances to be settled under an {{euaprov\|Option}} and thus already builds in a number.		'''[[Situation normal]]... ''': Techy drafting slip from {{icds}}: “Number of Allowances to be Delivered” isn’t a thing: there is “{{euaprov\|Number of Allowances}}”, which is the notional size of the {{euaprov\|Transaction}}, and then there is {{euaprov\|Allowances to be Delivered}} which references the particular number of Allowances to be settled under an {{euaprov\|Option}} and thus already builds in a number.