Template:M summ EUA Annex Adjustment Event: Difference between revisions
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{| class="wikitable sortable" | <small>{| class="wikitable sortable" | ||
|+ JC’s guide to Allowance Disruption | |+ JC’s guide to Allowance Disruption | ||
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| {{euaprov|Settlement Disruption Event}} || External {{isdaprov|Force Majeure}} type event prevents settlement. || Settlement suspended. No {{euaprov|Cost of Carry Amount}} payment. If continues for 9 {{euaprov|Delivery Business Day}}s or runs over a {{euaprov|Settlement Reconciliation Deadline}} either party can designate {{euaprov|Illegality}}, terminate the trade and either pay the {{euaprov|Close-out Amount}} or cancel and walk away. || Unless you specified {{euaprov|Payment on Termination for Settlement Disruption}}, just walk away. (Don’t @ me). | | {{euaprov|Settlement Disruption Event}} || External {{isdaprov|Force Majeure}} type event prevents settlement. || Settlement suspended. No {{euaprov|Cost of Carry Amount}} payment. If continues for 9 {{euaprov|Delivery Business Day}}s or runs over a {{euaprov|Settlement Reconciliation Deadline}} either party can designate {{euaprov|Illegality}}, terminate the trade and either pay the {{euaprov|Close-out Amount}} or cancel and walk away. || Unless you specified {{euaprov|Payment on Termination for Settlement Disruption}}, just walk away. (Don’t @ me). | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Suspension | | {{euaprov|Suspension Event}} || {{Registry}} suspends operating or there is an {{euaprov|Administrator Event}}. || {{euaprov|Receiving Party}} pays {{euaprov|Cost of Carry Amount}}.|| Note: {{euaprov|Suspension Event}}s trump {{euaprov|Settlement Disruption Event}}s. Unless you specified {{euaprov|Payment on Termination for Suspension}}, just walk away. (Don’t @ me). | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Fungibility Event}} || {{euaprov|Phase 3}} {{euaprov|Allowances}} not exchangeable for {{euaprov|Phase 4}} Allowances or no longer fu[[n]]gible. || Dunno but is isn’t a {{euaprov|Settlement Disruption Event}} || You will have to agree this among yourselves. | | {{euaprov|Fungibility Event}} || {{euaprov|Phase 3}} {{euaprov|Allowances}} not exchangeable for {{euaprov|Phase 4}} Allowances or no longer fu[[n]]gible. || Dunno but is isn’t a {{euaprov|Settlement Disruption Event}} || You will have to agree this among yourselves. | ||
|} | |} | ||
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Revision as of 14:15, 25 January 2023
{| class="wikitable sortable" |+ JC’s guide to Allowance Disruption |- ! Event !! What it is !! Who does what !! Who bears loss |- style="vertical-align:top; text-align:left;" | Abandonment of Scheme || EU gives up on Emissions Trading || Either party terminates on notice. Repay any prepaid amounts or premia || Walk away (I know, I know, it makes no sense. Don’t @ me folks) |- style="vertical-align:top; text-align:left;" | Settlement Disruption Event || External Force Majeure type event prevents settlement. || Settlement suspended. No Cost of Carry Amount payment. If continues for 9 Delivery Business Days or runs over a Settlement Reconciliation Deadline either party can designate Illegality, terminate the trade and either pay the Close-out Amount or cancel and walk away. || Unless you specified Payment on Termination for Settlement Disruption, just walk away. (Don’t @ me). |- style="vertical-align:top; text-align:left;" | Suspension Event || Template:Registry suspends operating or there is an Administrator Event. || Receiving Party pays Cost of Carry Amount.|| Note: Suspension Events trump Settlement Disruption Events. Unless you specified Payment on Termination for Suspension, just walk away. (Don’t @ me). |- style="vertical-align:top; text-align:left;" | Fungibility Event || Phase 3 Allowances not exchangeable for Phase 4 Allowances or no longer fungible. || Dunno but is isn’t a Settlement Disruption Event || You will have to agree this among yourselves. |}