Confirmation - Emissions Annex Provision

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EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions

Index: Click to expand:

Pro tip: for tons of information about EU ETS and EU financial services regulation see Michał Głowacki’s magnificent website.

Emissions trading documentation

ISDA: EU AnatomyEU Wikitext EU Nutshell (premium) • UK AnatomyUK Wikitext (to be merged into EU Anatomy)
IETA: IETA Master AgreementIETA WikitextIETA Nutshell (premium)

EFET: EFET Allowances AppendixEFET Allowances WikitextEFET Nutshell (premium)

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Here are the things you really ought to address in your Emissions Allowance Forward Transaction Confirmation.

Failure to Deliver method:
Seller (Delivering Party) [SPECIFY]
Buyer (Receiving Party) [SPECIFY]
Allowance Type EU Allowance
Specified Compliance Period Fourth Compliance Period
Number of Allowance [SPECIFY] Metric Tons
Allowance Purchase Price [SPECIFY] EUR per Metric Tons
Total Purchase Price [SPECIFY] EUR
Business Days TARGET
Settlement Currency EUR
Payment Date DD MM YYYY, subject to the provisions of “Failure To Deliver”.
Delivery Date DD MM YYYY (or, if such date is not a Delivery Business Day, the next following day that is a Delivery Business Day).
Buyer’s Specified Holding Account [SPECIFY]
Seller’s Specified Holding Account [SPECIFY]
Buyer’s Delivery Business Day Location [SPECIFY]
Seller’s Delivery Business Day Location [SPECIFY]
Calculation Agent [Buyer][Seller]
Excess Emissions Penalty [Applies][Does not apply]

EEP Risk Period: [SPECIFY]
EEP Equivalent: [SPECIFY]

Payment on Termination for Settlement Disruption [Applies][Does not apply]