On January 19, 2011, the European Commission suspended transfers at all European Emissions Trading Scheme Registries due to security breaches at certain EU member state emissions registries. As a result, GreenX halted the listing of new contract days for the Daily European Union Allowance (EUA) Futures contract. GreenX has since issued several Advisory Notices, which are available at:
http://www.thegreenx.com/market-regulation/articles/02-03-2011.html;
http://www.thegreenx.com/market-regulation/articles/03-10-2011.html;
http://www.thegreenx.com/market-regulation/articles/03-14-2011.html
The UK Greenhouse Gas Emissions Trading Scheme Registry, which is the standard delivery facility for the GreenX Daily European Union Allowance (EUA) Futures (code EUL) contract, along with other EU member state registries, have resumed operations. GreenX will lift the suspension of the Daily European Union Allowance (EUA) Futures (code EUL) contract and list the Daily contract on GreenX for trading via CME Globex and clearing through CME ClearPort commencing on Sunday, April 10, 2011 for trade date Monday, April 11, 2011.
In addition, in connection with the recent, and prior, EU member state registry security breaches, GreenX has compiled the attached list of the affected EUAs and CERs that will not be eligible for delivery for all GreenX EUA and CER Futures contracts. The attached list was compiled from various currently available public sources and may be updated from time to time by GreenX. Should GreenX receive any further information regarding potentially affected EUAs and CERs, GreenX will update and re-circulate this list as soon as reasonably practicable. Neither GreenX nor the Chicago Mercantile Exchange Inc. (“CME”) Clearing House make any representation or warranty with respect to the completeness or accuracy of any list of allegedly stolen EUAs/CERs or any link provided as a source for the list. In addition, neither GreenX nor CME Clearing House make any representation or warranty that any EUA or CER delivered to the CME Clearing House will not subsequently be or become ineligible to be accepted for delivery by the CME Clearing House pursuant to the GreenX Rules for its European Union Allowance and Certified Emission Reduction Futures contracts. The applicable futures contracts and specific GreenX Rule references are as follows:
- Daily European Union Allowance (EUA) Futures (Rule 1201.08)
- In Delivery Month European Union Allowance (EUA) Futures (Rule 1101.09)
- European Union Allowance (EUA) Futures (Rule 1701.09)
Please note that this Advisory Notice does not otherwise alter any GreenX Rules regarding the eligibility of CERs for delivery. In addition, these actions do not affect trading in any other futures or options products listed on GreenX.