Template:M comp disc EFET Allowance Annex 4.3

Unclear how often this clause would be used in practice: while brokers and dealers in the carbon markets may well be long and short fungible Allowances at the same time as a result of their market-making business, end users and other market participants are less likely to be, and we suspect the headache of working out exactly how long or short you are in which designated Holding Account to which counterparty is larger than the operational convenience of not having to deliver out lots of Allowances. This is just a guess, however.