Obligation to trade on regulated markets, MTFs or OTFs – new element of the emission market financial infrastructure
- Category: MiFID
MiFIR (Markets in Financial Instruments Regulation) will for the first time require certain derivatives contracts – those that are both cleared through a central counterparty (CCP) and deemed sufficiently liquid – to trade on a ‘trading venue’.
MiFID II exemption for EUAs compliance buyers – EP report of 5 October 2012
- Category: MiFID
Specific MiFID exemption has been designed for persons which own or directly operate installations subject to Directive 2003/87/EC, but the issue whether it is properly formulated is open.
California carbon leakage list
- Category: California cap-and-trade
Leakage refers to a reduction in emissions of GHGs within the California State that is offset by an increase in GHG emissions outside the State. Risk of leakage is highest for industries in which production is highly “emissions intensive” (leading to high compliance costs) and trade exposed (i.e., that face competition from out-of-state producers).
 California carbon leakage list.pdf | [ ] | 73 kB |
Rules on client-as-agent model specified by ESMA in EMIR RTS on indirect clearing arrangements
- Category: EMIR
Regulatory Technical Standards prejudge that facilitating indirect clearing arrangements is not mandatory for clearing members – the contentious issue as yet.
Basic rules on the commercial circulation of Australian carbon credit units
- Category: Australia cap-and-trade
Under the Australian climate legislation ACCUs are personal property and, subject to the relevant provisions, transmissible by assignment, by will and by operation of law.
Treasury financing activities “contaminated” by non-financials’ commodities trading units in effect of ESMA’s decisions on EMIR
- Category: EMIR
Commodity firms strongly opposed that exceeding the clearing threshold for one class of OTC derivative should trigger application of the clearing obligation or of the risk mitigation techniques for all classes of OTC derivative contracts.