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| {{A|emissions|{{subtable|{{Emissions Allowance - FWMD}}}}}}Here is the JC’s latest [[Anatomy]]{{tm}}: [[ISDA]]’s emissions annex. This Annex is a sort of add on to the {{commoddefs}}, which you access by adding a new Part with some elections to the Schedule to your {{isdama}}. You sort of get the sense it is a bit more of a moving feast, and a bit more hesitant, than {{icds}}’s usual work, which may be bloody-minded and pedantic, but is at least thorough, fulsome and rooted in some kind of logic, however perverse. This one — not so much. | | {{A|emissions|{{subtable|{{Emissions Allowance - FWMD}}}}}}{{Emissions anat intro}} |
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| Now that may well be partly our fault: we read this cold, without the benefit of having seen its evolution, and without much knowledge of the competing products (the [[International Emissions Trading Association]]’s master agreement, for example). We’ll maybe get on to that.
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| The [[Emissions Annex]] is also special in that it is the creature of those permanently marginalised splinter group from {{icds}}, the {{carbonsquad}}. These quasi-fundamentalist drafting weirdos, with all their neo-{{isda92prov|First Method}}, {{tiwu}} nonsense don't often get a look in, but ISDA seems to have given them free rein here, and they have not wasted the opportunity. But working out which tracts of the annex are dangerous, extremist nonsense and which are practical allocations of risk in a new and [[sui generis]] asset class this is all part of the fun of it, frankly.
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| Part [•]. '''{{euaprov|EU Emissions Allowance Transactions}}''' <br> | | Part [•]. '''{{euaprov|EU Emissions Allowance Transactions}}''' <br> |