Specified Holding Accounts and Modifications of Party’s Specified Holding Accounts - Emissions Annex Provision
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EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions
Section (d)(xii) in a Nutshell™ Use at your own risk, campers!
Full text of Section (d)(xii)
Comparison See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs
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Content and comparisons
Fun fact: one of the few significant points of difference between the EUA Annex and the UK Emissions Annex, in that this section does not appear in the UK Emissions Annex.
Summary
So many words.
Ok: so to deliver and receive EUAs you need to have approved registered accounts in side the EU ETS. these, once approved, qualify as Holding Accounts. Right. Then in order to perform an EUA Transaction, you need to tell your counterparty — specify to it, in the ’squad’s tedious argot — from which Holding Account you will be delivering EUAs, or into which Holding Account you will be receiving them. These are your Specified Holding Accounts. You can change these from time to time, as long as you give enough notice. You can specify your Specified Holding Accounts either in your Emissions Annex — in which case those designations will apply to all your emissions transactions — or in a Confirmation, in which case it will apply to that Transaction only.
Proper “gives you a thrill to be alive” stuff.