Template:EFET Allowance Annex 1

1 Subject of Allowances Appendix

The EU and the Member States as well as some Non-Member States plan to establish or have established Rules under which participants may trade Allowances. The purpose of this Allowances Appendix is to modify certain provisions of the General Agreement in order that its terms facilitate the entering into Allowance Transactions between the Parties that include, but are not limited to, forward, spot and swap transactions. In addition to the provisions of the General Agreement, the provisions of this Allowances Appendix shall therefore be applicable to Allowance Transactions between participants of Emissions Trading Scheme(s in Member States and, with certain modifications, between participants in Member States and Non-Member States.