Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community Text with EEA relevance
Modified by
- Commission Regulation (EU) No 1210/2011of 23 November 2011amending Regulation (EU) No 1031/2010 in particular to determine the volume of greenhouse gas emission allowances to be auctioned prior to 2013(Text with EEA relevance), 32011R1210, November 24, 2011
- Commission Regulation (EU) No 784/2012of 30 August 2012amending Regulation (EU) No 1031/2010 to list an auction platform to be appointed by Germany and correcting Article 59(7) thereof(Text with EEA relevance), 32012R0784, August 31, 2012
- Commission Regulation (EU) No 1042/2012of 7 November 2012amending Regulation (EU) No 1031/2010 to list an auction platform to be appointed by the United Kingdom(Text with EEA relevance), 32012R1042, November 9, 2012
- Commission Regulation (EU) No 1143/2013of 13 November 2013amending Regulation (EU) No 1031/2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community in particular to list an auction platform to be appointed by Germany(Text with EEA relevance), 32013R1143, November 14, 2013
- Commission Regulation (EU) No 176/2014of 25 February 2014amending Regulation (EU) No 1031/2010 in particular to determine the volumes of greenhouse gas emission allowances to be auctioned in 2013-20(Text with EEA relevance), 32014R0176, February 26, 2014
- Commission Regulation (EU) 2017/1902of 18 October 2017amending Commission Regulation (EU) No 1031/2010 to align the auctioning of allowances with Decision (EU) 2015/1814 of the European Parliament and of the Council and to list an auction platform to be appointed by the United Kingdom(Text with EEA relevance), 32017R1902, October 19, 2017
- Commission Delegated Regulation (EU) 2019/7of 30 October 2018amending Regulation (EU) No 1031/2010 as regards the auctioning of 50 million unallocated allowances from the market stability reserve for the innovation fund and to list an auction platform to be appointed by Germany(Text with EEA relevance), 32019R0007, January 4, 2019
- Commission Delegated Regulation (EU) 2019/1868of 28 August 2019amending Regulation (EU) No 1031/2010 to align the auctioning of allowances with the EU ETS rules for the period 2021 to 2030 and with the classification of allowances as financial instruments pursuant to Directive 2014/65/EU of the European Parliament and of the Council(Text with EEA relevance), 32019R1868, November 8, 2019
1. "futures" means allowances auctioned as financial instruments, pursuant to Article 38(3) of Commission Regulation (EC) No 1287/2006 OJ L 241, 2.9.2006, p. 1 .2. "forwards" means allowances auctioned as financial instruments, pursuant to Article 38(3) of Regulation (EC) No 1287/2006, for delivery at an agreed forward date at the auction clearing price determined pursuant to Article 7(2) of this Regulation and upon which variation margin calls to reflect price movements may be secured, either through non-cash collateral or by means of an agreed government guarantee, at the option of the central counterparty; 3. "two-day spot" means allowances auctioned for delivery at an agreed date no later than the second trading day from the day of the auction; 4. "five-day futures" means allowances auctioned for delivery at an agreed date no later than the fifth trading day from the day of the auction; 5. "bid" means an offer in an auction to acquire a given volume of allowances at a specified price; 6. "bidding window" means the time period during which bids may be submitted; 7. "trading day" means any day during which an auction platform and the clearing system or settlement system connected to it are open for trading; 8. "investment firm" means the same as in point (1) of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349 ).9. "credit institution" means the same as in Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1 ).10. "financial instrument" means the same as in point (15) of Article 4(1) of Directive 2014/65/EU; 11. "secondary market" means the market in which persons buy or sell allowances either before or after they are allocated either free of charge or through auctioning; 12. "parent undertaking" means the same as in Article 2(9) of Directive 2013/34/EU of the European Parliament and of the Council Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19 ).13. "subsidiary undertaking" means the same as in Article 2(10) of Directive 2013/34/EU; 14. "affiliate undertaking" means the same as in Article 2(12) of Directive 2013/34/EU; 15. "control" means the same as in Article 3(2) and (3) of Council Regulation No 139/2004 OJ L 24, 29.1.2004, p. 1 .OJ C 95, 16.4.2008, p. 1 .16. "auction process" means the process encompassing the setting of the auction calendar, the procedures for admission to bid, the procedures for submission of bids, the conduct of the auction, the calculation and announcement of the auction results, the arrangements for payment of the price due, delivery of the allowances and management of the collateral needed to cover any transaction risks, as well as the surveillance and monitoring of the proper conduct of the auctions by an auction platform; 17. "money laundering" means the same as in Article 1(3) of Directive (EU) 2015/849 of the European Parliament and of the Council Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73 ).18. "terrorist financing" means the same as in Article 1(5) of Directive (EU) 2015/849 having regard to Article 1(6) of that Directive; 19. "criminal activity" means the same as in Article 3(4) of Directive (EU) 2015/849; 20. "auctioneer" means any public or private entity appointed by a Member State, to auction allowances on its behalf; 21. "nominated holding account" means one or more type of holding account provided for in the applicable delegated acts adopted pursuant to Article 19(3) of Directive 2003/87/EC for the purposes of participating in or conducting the auction process including the holding of allowances in escrow, pending their delivery under this Regulation; 22. "nominated bank account" means a bank account designated by an auctioneer, a bidder or its successor in title for the receipt of payments due under this Regulation; 23. "customer due diligence measures" means the same as the customer due diligence measures in Article 13 of Directive (EU) 2015/849 and the enhanced customer due diligence measures in Article 18, Article 18a and Article 20 having regard to Articles 22 and 23 of that Directive; 24. "beneficial owner" means the same as in Article 3(6) of Directive (EU) 2015/849; 25. "duly certified copy" means an authentic copy of an original document that is certified as being a true copy of the original by a qualified lawyer, accountant, notary public or similar professional who is recognised under the national law of the Member State concerned to attest officially as to whether a copy is in fact a true copy of its original; 26. "politically exposed persons" means the same as in Article 3(9) of Directive (EU) 2015/849; 27. "market abuse" means the same as in Article 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1 ).28. "insider dealing" means the same as in Article 8 of Regulation (EU) No 596/2014 and as prohibited by points (a) and (b) of Article 14 of that Regulation; 28a. "unlawful disclosure of inside information" means the same as in Article 10 of Regulation (EU) No 596/2014 and as prohibited by point (c) of Article 14 of that Regulation; 29. "inside information" means the same as in Article 7 of Regulation (EU) No 596/2014; 30. "market manipulation" means the same as in Article 12 of Regulation (EU) No 596/2014 and as prohibited by Article 15 of that Regulation; 31. "clearing system" means one or more infrastructure connected to the auction platform that can provide clearing, margining, netting, management of collateral, settlement and delivery, and any other services, carried out by a central counterparty, accessed either directly or indirectly through members of the central counterparty who act as intermediaries between their clients and the central counterparty; 32. "clearing" means all processes preceding the opening of the bidding window, during the bidding window and following the closing of the bidding window until settlement, involving the management of any risks arising during that interval, including margining, netting, or novation, or any other services, carried out possibly by a clearing or settlement system; 33. "margining" means the process by which collateral is to be pledged by an auctioneer or a bidder, or one or more intermediaries acting on their behalf, to cover a given financial position, encompassing the entire process of measuring, calculating and administering the collateral put up to cover such financial positions, intended to ensure that all payment commitments of a bidder and all delivery commitments of an auctioneer or one or more intermediaries acting on their behalf can be met within a very short period of time; 34. "settlement" means payment by a successful bidder, or its successor in title, or a central counterparty, or a settlement agent of the sum due for allowances to be delivered to that bidder or its successor in title, or a central counterparty, or a settlement agent, and delivery of the allowances to the successful bidder or its successor in title, or a central counterparty or a settlement agent; 35. "central counterparty" means an entity which interposes either directly between an auctioneer and a bidder or its successor in title, or between intermediaries representing them, that acts as the exclusive counterparty to each of them guaranteeing the payment of the auction proceeds to the auctioneer or an intermediary representing it or the delivery of the auctioned allowances to the bidder or an intermediary representing it, subject to Article 48; 36. "settlement system" means any infrastructure whether or not connected to the auction platform that can provide settlement services, which may include clearing, netting, management of collateral, or any other services, which ultimately enable the delivery of allowances on behalf of an auctioneer to a successful bidder or its successor in title, and the payment of the sum due by a successful bidder or its successor in title to an auctioneer, carried out through either of the following: (a) the banking system and the Union registry; (b) one or more settlement agents acting on behalf of an auctioneer and a bidder or its successor in title, accessing the settlement agent either directly or indirectly through members of the settlement agent who act as intermediaries between their clients and the settlement agent;
37. "settlement agent" means an entity acting as an agent providing accounts to the auction platform, through which accounts instructions for the transfer of the auctioned allowances given by the auctioneer or an intermediary representing it and the payment of the auction clearing price by a successful bidder, its successor in title, or an intermediary representing them are safely executed either simultaneously or nearly simultaneously in a guaranteed manner; 38. "collateral" means the forms of collateral security referred to in Article 2(m) of Directive 98/26/EC of the European Parliament and of the Council OJ L 166, 11.6.1998, p. 45 .39. "regulated market" means the same as in point (21) of Article 4(1) of Directive 2014/65/EU; 40. "SMEs" means operators or aircraft operators that are small and medium-sized enterprises within the meaning of Commission Recommendation 2003/361/EC OJ L 124, 20.5.2003, p. 36 .41. "small emitters" means operators or aircraft operators that emitted 25000 tonnes of carbon dioxide equivalent emissions or less on average in the three calendar years preceding the year in which they participate in an auction, as determined by their verified emissions;42. "market operator" means the same as in point (18) of Article 4(1) of Directive 2014/65/EU; 43. "establishment" means any of the following: (a) place of residence or permanent address within the Union for the purposes of the third subparagraph of Article 6(3); (b) the same as in point (55)(a) of Article 4(1) of Directive 2014/65/EU taking into account the requirements of Article 5(4) of that Directive for the purposes of Article 18(2) of this Regulation; (c) the same as in point (55)(a) of Article 4(1) of Directive 2014/65/EU taking into account the requirements of Article 5(4) of that Directive for the purposes of Article 19(2) of this Regulation, in the case of persons referred to in point (b) of Article 18(1) of this Regulation; (d) the same as in point (43) of Article 4(1) of Regulation (EU) No 575/2013 for the purposes of Article 19(2) of this Regulation, in the case of persons referred to in point (c) of Article 18(1) of this Regulation; (e) the same as in point (55)(a) of Article 4(1) of Directive 2014/65/EU for the purposes of Article 19(2) of this Regulation in the case of business grouping referred to in point (d) of Article 18(1) of this Regulation; (f) the same as in point (55)(b) of Article 4(1) of Directive 2014/65/EU for the purposes of Article 35(4), (5) and (6) of this Regulation;
44. "exit strategy" means one or more documents determined in accordance with the contracts appointing the auction platform concerned, setting out detailed measures planned to ensure the following: (a) the transfer of all tangible and intangible assets necessary for the uninterrupted continuation of the auctions and the smooth operation of the auction process by an auction platform’s successor; (b) the provision of all information relating to the auction process, that is necessary for the procurement procedure for the appointment of the auction platform’s successor; (c) the provision of the technical assistance that enables the contracting authorities or the auction platform’s successor or any combination of these, to understand, access or use the relevant information provided pursuant to points (a) and (b).
(a) the identity of the bidder and whether the bidder is bidding on its own account or on behalf of a client; (b) where the bidder is bidding on behalf of a client, the identity of the client; (c) the volume bid as a number of allowances in integral multiples of lots of 500 allowances; (d) the price bid in euros for each allowance specified to two decimal points.
(a) the cancellation of an auction pursuant to Article 7(5) and (6), Article 9 and Article 32(5); (b) any suspension of an auction platform other than the auction platforms appointed pursuant to Article 26(1) of this Regulation provided for in the delegated acts adopted pursuant to Article 19(3) of Directive 2003/87/EC; (c) any decision by a Member State made pursuant to Article 30(8); (d) any settlement failure referred to in Article 45(5); (e) any allowances remaining in the special reserve referred to in Article 3f of Directive 2003/87/EC; (f) allowances remaining in the reserve for new entrants provided for in Article 10a(7) of Directive 2003/87/EC and allowances not allocated pursuant to Article 10c of that Directive; (g) any unilateral inclusion of additional activities and gases pursuant to Article 24 of Directive 2003/87/EC; (h) any measures adopted pursuant to Article 29a of Directive 2003/87/EC; (i) the entry into force of amendments to this Regulation or to Directive 2003/87/EC; (j) any withholding of allowances from the auctions pursuant to Article 22(5); (k) the necessity for an auction platform to avoid conducting an auction in breach of this Regulation or Directive 2003/87/EC; (l) adjustments necessary pursuant to Decision (EU) 2015/1814 which shall be determined and published by 15 July of the given year, or as soon as practicable thereafter; (m) cancellation of allowances pursuant to Article 12(4) of Directive 2003/87/EC.
(a) an operator or an aircraft operator having an operator holding account or an aircraft operator holding account, bidding on its own account, including any parent undertaking, subsidiary undertaking or affiliate undertaking forming part of the same group of undertakings as the operator or the aircraft operator; (b) investment firms authorised under Directive 2014/65/EU bidding on their own account or on behalf of their clients; (c) credit institutions authorised under Directive 2013/36/EU of the European Parliament and of the Council Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338 ).(d) business groupings of persons listed in point (a) bidding on their own account and acting as an agent on behalf of their members; (e) public bodies or state-owned entities of the Member States that control any of the persons listed in point (a).
(a) the auctioneer; (b) the auction platform including any clearing system and any settlement system connected to it; (c) persons who are in a position to exercise, directly or indirectly, significant influence over the management of the persons under points (a) and (b); (d) persons working for persons under points (a) and (b).
(a) the requirements for admission of the member or participant to trade allowances through the secondary market organised by the auction platform appointed pursuant to Article 26(1) or 30(1) are no less stringent than those listed under paragraph 2 of this Article; (b) the auction platform appointed pursuant to Article 26(1) or 30(1) receives any additional information necessary to verify the fulfilment of any requirements referred to in paragraph 2 of this Article that have not been previously verified.
(a) are established in the Union, an operator or an aircraft operator; (b) hold a nominated holding account; (c) hold a nominated bank account; (d) appoint at least one bidder’s representative as defined in the third subparagraph of Article 6(3); (e) satisfy the auction platform concerned in line with applicable customer due diligence measures as to their identity, the identity of their beneficial owners, integrity, business and trading profile having regard to the means of establishing the relationship with the bidder, the type of bidder, the nature of the auctioned product, the size of prospective bids, and the means of payment and delivery; (f) satisfy the auction platform concerned of their financial standing, in particular, that they are able to meet their financial commitments and current liabilities as they fall due; (g) have in place or are able to put in place when requested, the internal processes, procedures and contractual agreements necessary to give effect to a maximum bid-size imposed pursuant to Article 57; (h) fulfil the requirements of Article 49(1).
(a) their clients are eligible persons pursuant to Article 18(1) or (2); (b) they have or will have in good time before the opening of the bidding window adequate internal processes, procedures and contractual agreements necessary to: (i) enable them to process bids from their clients including the submission of bids, collection of payment and transfer of allowances; (ii) prevent the disclosure of confidential information from that part of their business responsible for receiving, preparing and submitting bids on behalf of their clients to that part of their business responsible for preparing and submitting bids on their own account; (iii) ensure that their clients who themselves are acting on behalf of clients bidding in the auctions apply the requirements set out in paragraph 2 of this Article and in this paragraph and that they require the same of their clients and of the clients of their clients as provided for in Article 18(4).
The auction platform concerned may rely on reliable checks carried out by the persons referred to in the first subparagraph of this paragraph, their clients, or the clients of their clients as provided for in Article 18(4). Persons referred to in the first subparagraph of this paragraph shall be responsible for ensuring that they are able to demonstrate to the auction platform whenever requested to do so by the auction platform pursuant to Article 20(5)(d) that the conditions in points (a) and (b) of the first subparagraph of this paragraph are fulfilled.
(a) to comply with requests made by the auction platform for additional information or clarification or substantiation of information provided; (b) to attend an invitation made by the auction platform to interview any officers of the applicant including at its business premises or elsewhere; (c) to allow investigations or verifications, requested by the auction platform including on-site visits or spot-checks at the applicant’s business premises; (d) to comply with requests made by the auction platform for any information required from an applicant, the clients of an applicant or the clients of their clients as provided for in Article 18(4) to check compliance with the requirements of Article 19(3); (e) to comply with requests made by the auction platform for any information required to check compliance with the requirements of Article 19(2).
(a) grant unconditional admission to the auctions for a period not exceeding the term of its appointment, including any extension or renewal of that appointment; (b) grant conditional admission to the auctions for a period not exceeding the term of its appointment, subject to fulfilment of the specified conditions, by a given date, which shall be duly verified by the auction platform concerned; (c) refuse to grant admission.
(a) is not or is no longer eligible to apply for admission to bid under Article 18(1) or (2); (b) does not or no longer meets the requirements of Articles 18, 19 and 20; (c) is wilfully or repeatedly in breach of this Regulation, the terms and conditions of its admission to bid in the auctions conducted by the auction platform concerned or any other related instructions or agreements.
(a) who is negligently in breach of this Regulation, the terms and conditions of its admission to bid in the auctions conducted by the auction platform concerned or any other related instructions or agreements; (b) who has otherwise behaved in a manner that is prejudicial to the orderly or efficient conduct of an auction; (c) who is referred to in Article 18(1)(b) or (c) or Article 18(2) and has not bid in any auction during the preceding 220 trading days.
(a) grant or reinstate admission with effect from a given date; (b) grant conditional admission or conditional reinstatement of admission subject to fulfilment of the specified conditions by a given date, which shall be duly verified by the auction platform concerned; (c) confirm the refusal to grant admission, the revocation or suspension of admission with effect from a given date.
(a) is orderly; (b) does not prejudice the interests of their clients or interfere with the efficient functioning of the auctions; (c) does not affect their obligations to comply with any payment provisions, the terms and conditions of their admission to bid in the auctions or any other related instructions or agreements; (d) does not compromise their obligations regarding the protection of confidential information pursuant to Article 19(3)(b)(ii) which shall remain in force for 20 years following their removal from the auctions.
(a) auction the volume of allowances to be auctioned by each Member State appointing it; (b) receive the auction proceeds due to each Member State appointing it; (c) disburse the auction proceeds due to each Member State appointing it.
(a) providing access to the auctions, pursuant to Articles 15 to 21, including the provision and maintenance of the necessary internet-based electronic interfaces and website; (b) conducting the auctions in accordance with Articles 4 to 7; (c) managing the auction calendar in accordance with Articles 8 to 14; (d) announcing and notifying the results of an auction, pursuant to Article 61; (e) providing, or ensuring through sub-contracting the provision of, the requisite clearing system or settlement system needed for: (i) the handling of payments made by successful bidders or their successors in title and distribution of the proceeds of the auctions to the auctioneer, pursuant to Articles 44 and 45; (ii) delivering the auctioned allowances to successful bidders or their successors in title, pursuant to Articles 46, 47 and 48; (iii) managing collateral including any margining, provided by the auctioneer or bidders, pursuant to Articles 49 and 50;
(f) providing the Commission with any information relating to the conduct of the auctions pursuant to Article 53; (g) surveying the auctions, notifying suspicions of money laundering, terrorist financing, criminal activity or market abuse, administering any required remedial measures or sanctions including the provision of an extra-judicial dispute resolution mechanism, pursuant to Article 54 to 59 and Article 64(1); (h) reporting, pursuant to Article 36.
(a) providing access to the auctions pursuant to the arrangements in place in the secondary market, organised by the auction platform, as modified in the contracts appointing it; (b) conducting the auctions in accordance with Articles 4 to 7; (c) managing the auction calendar in accordance with Articles 8 to 14; (d) announcing and notifying the results of an auction, pursuant to Article 61; (e) providing, pursuant to the arrangements in place in the secondary market organised by the auction platform, without prejudice to Articles 44 to 50, as modified in the contract appointing it, the clearing system or settlement system needed for the: (i) handling of payments made by bidders or their successors in title and the distribution of the proceeds of the auctions to the auctioneer; (ii) delivering auctioned allowances to successful bidders or their successors in title; (iii) managing collateral, including any margining, provided by the auctioneer or bidders;
(f) providing the auction monitor with any information relating to the conduct of the auctions, required for the carrying out of the auction monitor’s functions, pursuant to Article 53; (g) surveying the auctions, notifying suspicions of money laundering, terrorist financing, criminal activity or market abuse, administering any required remedial measures or sanctions, including the provision of an extra-judicial dispute resolution mechanism, pursuant to the arrangements in place in the secondary market organised by the auction platform, as modified in the contract appointing it.
(a) any coordination of the auction calendar for Annex III; (b) any opinions provided by the Commission under this Regulation; (c) any opinions or reports provided by the auction monitor regarding the functioning of the auctions platforms appointed pursuant to Article 26(1) or (2); (d) the reports by the Commission pursuant to Articles 10(5) of Directive 2003/87/EC; (e) any amendment to this Regulation or Directive 2003/87/EC which has an impact on the functioning of the carbon market including the implementation of the auctions; (f) any review of this Regulation, Directive 2003/87/EC or the delegated acts adopted pursuant to Article 19(3) of that Directive which has an impact on the functioning of the carbon market including the implementation of the auctions; (g) any other joint action relating to the functioning of the carbon market including the implementation of the auctions agreed between the Commission and the Member States participating in the joint action.
(a) the identity of the auction platform it proposes to appoint; (b) the detailed operative rules that would govern the auction process to be conducted by the auction platform(s) it proposes to appoint, including the contractual provisions concerning the appointment of the auction platform concerned including any clearing system(s) and settlement system(s) connected to the proposed auction platform stipulating the terms and conditions governing the structure and level of fees, collateral management, payment and delivery; (c) the auctioned product and any information necessary for the Commission to assess whether the envisaged auction calendar is compatible with any prevailing or envisaged auction calendar of the auction platforms appointed pursuant to Article 26(1) as well as other auction calendars proposed by other Member States not participating in the joint action provided for in Article 26 but opting to appoint their own auction platforms; (d) the detailed rules and conditions on surveying and supervising the auctions to which its proposed auction platform shall be subject pursuant to Article 35(4), (5) and (6) as well as the detailed rules protecting against money laundering, terrorist financing, criminal activity or market abuse, including any remedial measures or sanctions; (e) the detailed measures put in place to comply with Article 22(4) and Article 34 regarding the appointment of the auctioneer.
(a) exhibit the least risk of conflict of interest or market abuse having regard to the following: (i) any activities on the secondary market; (ii) any internal processes and procedures to mitigate the risk of conflict of interest or market abuse;
(b) are able to fulfil the auctioneer’s functions, in a timely manner, in accordance with the highest professional and quality standards.
(a) ensuring respect of the principle of non-discrimination both de facto and de jure; (b) full, fair and equitable access to bid in the auctions for SMEs covered by the Union scheme and access to bid in the auctions for small emitters, as defined in Articles 27(1), 27a(1) and 28a(6) of Directive 2003/87/EC; (c) ensuring cost-efficiency and avoiding undue administrative burden; (d) robust auction supervision, notification of suspicions of money laundering, terrorist financing, criminal activity or market abuse, administration of any required remedial measures or sanctions, including the provision of an extra-judicial dispute resolution mechanism; (e) avoiding distortions of competition in the internal market including the carbon market; (f) ensuring the proper functioning of the carbon market including the implementation of the auctions; (g) connecting to one or more clearing system or settlement system; (h) the provision of adequate measures requiring an auction platform to hand over all tangible and intangible assets necessary for the conduct of the auctions by an auction platform’s successor.
(a) "inside information" means information of a precise nature which has not been made public, relating, directly or indirectly, to one or more of the auctioned products, and which, if it were public, would be likely to have a significant effect on the prices at which bids would be made. For persons charged with the execution of bids, inside information also means information conveyed by a client and related to the client’s pending bids, which is of a precise nature, which related directly or indirectly to one or more auctioned products and which, if it were made public, would be likely to have a significant effect on the prices at which bids would be made; (b) "market manipulation" means: (i) bids, or transactions or orders on the secondary market: which give, or are likely to give, false or misleading signals as to the demand for or price of the auctioned products, or which secure, by a person, or persons acting in collaboration, an auction clearing price for the auctioned products at an abnormal or artificial level,
unless the person who made the bid or, on the secondary market, the transaction or the order, establishes that its reasons for so doing are legitimate; (ii) bids which employ fictitious devices or any other form of deception or contrivance; (iii) dissemination of information through the media, including the Internet, or by any other means, which gives, or is likely to give, false or misleading signals as to the auctioned products, including the dissemination of rumours and false or misleading news, where the person who made the dissemination knew, or ought to have known, that the information was false or misleading. In respect of journalists when they act in their professional capacity such dissemination of information is to be assessed, taking into account the rules governing their profession, unless those persons derive, directly or indirectly, an advantage or profits from the dissemination of the information in question.
conduct by a person, or persons acting in collaboration, to secure a dominant position over the demand for an auctioned product which has the effect of fixing, directly or indirectly, auction clearing prices or creating other unfair trading conditions, the buying or selling on the secondary market of allowances or related derivatives prior to the auction with the effect of fixing the auction clearing price for the auctioned products at an abnormal or artificial level or misleading bidders bidding in the auctions, taking advantage of occasional or regular access to the traditional or electronic media by voicing an opinion about an auctioned product while having previously made a bid in relation to that product and profiting subsequently from the impact of the opinions voiced on the other bid prices offered for that product, without having simultaneously disclosed that conflict of interest to the public in a proper and effective way.
(a) by virtue of its membership of the administrative, management or supervisory bodies of the auction platform, the auctioneer or the auction monitor; or (b) by virtue of its holding in the capital of the auction platform, the auctioneer or the auction monitor; or (c) by virtue of its having access to the information through the exercise of his employment, profession or duties; or (d) by virtue of its criminal activities.
(a) disclose inside information to any other person unless such disclosure is made in the normal course of the exercise of its employment, profession or duties; (b) recommend or induce another person, on the basis of inside information, to submit, modify or withdraw the bid for auction products to which that information relates.
(a) interest for each day beginning with the date on which payment was due pursuant to Article 61(3)(d) and ending on the date on which payment is made at an interest rate set out in the contract appointing the auction platform concerned, calculated on a daily basis; (b) a penalty, which shall accrue to the auctioneer less any costs deducted by the clearing system or settlement system.
(a) the central counterparty shall interpose to take delivery of the allowances and effect payment of the sum due to the auctioneer; (b) the settlement agent shall apply collateral taken from the bidder to effect payment of the sum due to the auctioneer.
(a) fair and open access; (b) transparency; (c) price formation; (d) technical and operational aspects of the implementation of the contract appointing the auction platform concerned; (e) the relationship between the auction processes and the secondary market in respect of the information under points (a) to (d); (f) any evidence of anti-competitive behaviour, market abuse, money laundering, terrorist financing or criminal activity that the auction platform has been made aware while carrying out its functions pursuant to Article 27 or Article 31(1); (g) any breach of this Regulation or non-conformity with the objectives of Article 10(4) of Directive 2003/87/EC that the auction platform has been made aware while carrying out its functions pursuant to Article 27 or Article 31(1) of this Regulation; (h) follow-up to any information reported under points (a) to (g). In addition, by 31 January of each year, the auction platform shall also provide a summary and an analysis of these monthly reports of the previous year.
(a) scrutinising bids made throughout the course of that relationship to ensure that the bidding behaviour of bidders is consistent with the auction platform’s knowledge of the customer, its business and risk profile, including, where necessary, the source of funds; (b) maintaining effective arrangements and procedures for the regular monitoring of the compliance by persons admitted to bid pursuant to Article 19(1), (2) and (3) with its market conduct rules; (c) monitoring transactions undertaken by persons admitted to bid pursuant to Articles 19(1), (2) and (3) and by persons as defined in Article 3(26) using its systems in order to identify breaches of the rules referred to in point (b) of this subparagraph, unfair or disorderly auctioning conditions or conduct that may invoke market abuse.
(a) request any information of the bidder, pursuant to Article 19(2) and (3) and Article 20(5) and (7), for the purposes of monitoring the relationship with that bidder following its admission to bid in the auctions, throughout the subsistence of that relationship and for a period of 5 years following its termination; (b) require any person admitted to bid to re-submit an application for admission to bid at regular intervals; (c) require any person admitted to bid to promptly notify the auction platform concerned of any changes to the information submitted to it pursuant to Article 19(2) and (3) and Article 20(5) and (7).
(a) the application for admission to bid submitted by an applicant, pursuant to Article 19(2) and (3), including any amendments thereto; (b) the checks carried out in: (i) processing the application for admission to bid submitted, pursuant to Articles 19, 20 and 21; (ii) scrutinising and monitoring the relationship, pursuant to points (a) and (c) of paragraph 1, following an applicant’s admission to bid;
(c) all information relating to a given bid submitted by a given bidder in an auction, including any withdrawal or modification of such bids, pursuant to the second subparagraph of Article 6(3) and Article 6(4); (d) all information relating to the conduct of each auction in which a bidder has submitted a bid.
(a) informing the FIU, including by filing a report, on their own initiative, where they know, suspect or have reasonable grounds to suspect that funds in relation to the auctions, regardless of the amount involved, are the proceeds of criminal activity or are related to terrorist financing, and by promptly responding to requests by the FIU for additional information in such cases; (b) providing the FIU directly, at its request, with all necessary information.
(a) the same group of undertakings including any parent undertakings, its subsidiary undertakings and affiliate undertakings; (b) the same business grouping; (c) a separate economic unit having an independent power of decision where they are controlled, directly or indirectly, by public bodies or state-owned entities.
(a) persons authorised to bid pursuant to Article 18(2). (b) investment firms and credit institutions referred to Article 18(1)(b) and (c) authorised to bid pursuant to Article 18(3).
(a) they shall accept instructions from their clients on comparable terms; (b) they shall refuse to bid on behalf of a client if they have reasonable grounds to suspect money laundering, terrorist financing, criminal activity or market abuse, subject to national legislation transposing Articles 35 and 39 of Directive (EU) 2015/849; (c) they may refuse to bid on behalf of a client if they have reasonable grounds to suspect that the client is unable to pay for the allowances for which it is seeking to bid; (d) they shall enter into a written agreement with their clients. Agreements entered into shall not impose any unfair conditions or restrictions on the client concerned. They shall provide for all the terms and conditions relating to the services offered including in particular payment and delivery of the allowances; (e) they may require their clients to make a deposit by way of advance payment for allowances; (f) they may not unduly limit the number of bids that a client might submit; (g) they may not prevent or restrict their clients from engaging the services of other entities eligible pursuant to Article 18(1)(b) to (e) and Article 18(2) to bid on their behalf in the auctions; (h) they shall pay due regard to the interests of their clients who request them to submit bids on their behalf in the auctions; (i) they shall treat clients fairly and without discrimination; (j) they shall maintain adequate internal systems and procedures to process requests from clients to act as agent in an auction and to be able to participate effectively in an auction in particular with regard to the submission of bids on behalf of their clients, collect payment and collateral from and transfer allowances to clients for whom they act; (k) they shall prevent the disclosure of confidential information from that part of their business responsible for receiving, preparing and submitting bids on behalf of their clients to that part of their business responsible for preparing and submitting bids on their own account or to that part of their business responsible for dealing on their own account on the secondary market; (l) they shall keep records of information obtained or created in their role as intermediaries handling bids on behalf of their clients in the auctions, for five years from the date of obtaining or creating the information concerned.
(a) they shall provide any information requested by any auction platform where they are admitted to bid to fulfil its functions under this Regulation; (b) they shall act with integrity, reasonable skill, care and diligence.
(a) they are of sufficiently good repute and sufficiently experienced as to ensure proper respect of the conduct rules provided for in paragraphs 2 and 3; (b) they have put in place the necessary processes and checks to manage conflicts of interest and serve the best interests of their clients; (c) they comply with the requirements of national legislation transposing Directive (EU) 2015/849; (d) they comply with any other measures deemed necessary having regard to the nature of the bidding services being offered and the level of sophistication of the clients in question in terms of their investor or trading profile as well as any risk-based assessment of the likelihood of money laundering, terrorist financing or criminal activity.
(a) its competent national authorities have at their disposal the necessary investigative powers and sanctions that are effective, proportionate and dissuasive; (b) a mechanism is established for the handling of complaints and the withdrawal of authorisations where the authorised persons are in breach of their obligations pursuant to such authorisation; (c) its competent national authorities may withdraw the authorisation granted under paragraph 5 where a person referred to in paragraph 1 has seriously and systematically infringed the provisions of paragraphs 2 and 3.
(a) the volume of the allowances auctioned; (b) the auction clearing price in euros; (c) the total volume of bids submitted; (d) the total number of bidders and the number of successful bidders; (e) in case of cancellation of an auction, the auctions to which the volume of allowances will be carried over; (f) the total revenue earned from the auction; (g) the distribution of the revenue between the Member States, in the case of auction platforms appointed pursuant to Article 26(1).
(a) the total number of allowances to be allocated to that bidder; (b) which of its tied bids, if any, were randomly selected; (c) the payment due either in euros or in the currency of a Member State not member of the euro-zone, chosen by the bidder provided that the clearing system or settlement system is capable of handling the national currency in question; (d) the date by which the payment due must be paid in cleared funds into the auctioneer's nominated bank account.
(a) the contents of a bid; (b) the contents of any instructions to bid even when no bid is submitted; (c) information which discloses, or from which can be deduced, the identity of the bidder in question and either of the following: (i) the number of allowances which a bidder wishes to acquire in an auction; (ii) the price which a bidder is willing to pay for those allowances;
(d) information about, or derived from, one or more bids or instructions to bid which either separately or collectively would be likely to: (i) give an indication as to the demand for allowances prior to any auction; (ii) give an indication as to the auction clearing price prior to any auction;
(e) information provided by persons in the framework of the establishment or maintenance of the relationship with bidders or in the framework of the monitoring of that relationship pursuant to Articles 19, 20, 21 and 54; (f) the auction monitor reports and opinions made pursuant to Article 25(1) to (6) except for the parts contained in any non-confidential versions of the auction monitor’s reports published by the Commission pursuant to Article 60(2); (g) business secrets provided by persons participating in a competitive procurement process to appoint an auction platform; (h) information on the algorithm used for the random selection of tied bids, referred to in Article 7(2); (i) information on the methodology to define what constitutes an auction clearing price significantly under the prevailing secondary market price before and during an auction, referred to in Article 7(6).
(a) has already lawfully been made available to the public; (b) is made public with the written consent of a bidder, person admitted to bid, or person applying for admission to bid; (c) is required to be disclosed or to be publicly available by an obligation under Union law; (d) is made public pursuant to a court order; (e) is disclosed or made public for the purposes of any criminal, administrative, or judicial investigations or proceedings carried out in the Union; (f) is disclosed by an auction platform to the auction monitor for the purpose of enabling or assisting the auction monitor to carry out its functions or to fulfil its obligations in relation to the auctions; (g) is aggregated or redacted prior to its disclosure, so that it is unlikely that information relating to the following is discernable: (i) individual bids or instructions to bid; (ii) individual auctions; (iii) individual bidders, prospective bidders or persons applying for admission to bid; (iv) individual applications for admission to bid; (v) individual relationships with bidders;
(h) is referred to in paragraph 1(f) provided that it is disclosed to the public in a non-discriminatory and orderly fashion by the competent national authorities of Member States for information covered by Article 25(2)(c) and by the Commission for other information covered by Article 25(2); (i) is referred to in paragraph 1(g) provided that it is disclosed to persons working for Member States or the Commission involved in the competitive procurement process referred to in paragraph 1(g), who are themselves bound by an obligation of professional secrecy under their terms of employment; (j) is made public after the end of a period of 30 months starting from either of the following dates, subject to any subsisting professional secrecy obligations under Union law: (i) the date of the opening of the bidding window of the auction in which the confidential information is first disclosed with respect to confidential information in paragraph 1(a) to (d); (ii) the date of the termination of the relationship with a bidder with respect to confidential information in paragraph 1(e); (iii) the date of the auction monitor’s report or opinion with respect to confidential information in paragraph 1(f); (iv) the date of submission of the information in the competitive procurement process with respect to confidential information in paragraph 1(g).
(a) the competent national authorities supervising an auction platform; (b) the competent national authorities responsible for investigating and prosecuting money laundering, terrorist financing, criminal activity or market abuse; (c) the Commission.
(a) their applications for admission to bid, including any supporting documents; (b) their bids, including any withdrawal or modifications thereof; (c) any queries relating to points (a) or (b).
| Notification pursuant to Article 12(4) of Directive 2003/87/EC | ||
|---|---|---|
| Member State and public authority submitting the notification: | ||
| Date of the notification: | ||
| Identification of the closed electricity generation installation ("installation") on the territory of the Member State in accordance with the data recorded in EUTL, established by the delegated act adopted pursuant to Article 19(3) of Directive 2003/87/EC, including: | ||
| The name of the installation: | ||
| The installation identifier from the EUTL: | ||
| The name of the installation operator: | ||
| The date of closure of the installation and revocation of the greenhouse gas permit: | ||
| Description and reference of the additional national measures that triggered the closure of the installation: | ||
| The verified emission reports of the installation for the five years preceding the year of the closure: | ||
| The total volume of allowances to be cancelled: | ||
| The years over which the allowances are to be cancelled: | ||
| The exact volume of allowances to be cancelled in each of the years referred to in point 8: | ||
(a) their incorporation stating: the legal form of the applicant; the law by which it is governed; whether or not the applicant is a publicly listed company of one or more recognised stock exchange(s); (b) if applicable, the registration number of the applicant in the relevant register where the applicant is registered, failing which the applicant shall provide the memorandum, statutes or other document attesting to its incorporation.
| 1 | Auction Platform | European Energy Exchange AG (EEX) |
| Term of appointment | From | |
| Conditions | Admission to the auctions shall not be dependent on becoming a member of or a participant in the secondary market organised by EEX or of any other trading place operated by EEX or by any third party. | |
| Obligations | ||
| Legal basis | Article 30(2) | |
| 2 | Auction platform | ICE Futures Europe (ICE) |
| Term of appointment | From | |
| Definitions | ||
| Conditions | Admission to the auctions shall not be dependent on becoming an exchange member of or a participant in the secondary market organised by ICE or of any other trading place operated by ICE or by any third party. | |
| Obligations |
| |
| Legal basis | Article 30(1) | |
| 3 | Auction Platform | European Energy Exchange AG (EEX) |
| Legal basis | Article 30(1) | |
| Term of appointment | From | |
| Conditions | Admission to the auctions shall not be dependent on becoming a member of or a participant in the secondary market organised by EEX or of any other trading place operated by EEX or by any third party. | |
| Obligations |
| |
| 4 | Auction platform | ICE Futures Europe (ICE) |
| Legal Basis | Article 30(1) | |
| Term of appointment | From | |
| Definitions | ||
| Conditions | Admission to the auctions shall not be dependent on becoming an exchange member of or a participant in the secondary market organised by ICE or of any other trading place operated by ICE or by any third party. | |
| Obligations |
| |
| 5 | Auction platform | European Energy Exchange AG (EEX) |
| Legal Basis | Article 30(1) | |
| Term of appointment | From | |
| Conditions | Admission to the auctions shall not be dependent on becoming a member of or a participant in the secondary market organised by EEX or of any other trading place operated by EEX or by any third party. | |
| Obligations |
|
| Year | Volume of reduction |
|---|---|
| 2013 | |
| 2014 | 400 |
| 2015 | 300 |
| 2016 | 200 |
| 2017 | |
| 2018 | |
| 2019 | |
| 2020 |