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Non market transaction definition9/11/2023 ![]() This authority maintains the German national register for EU emission allowances. German Emissions Trading Authority, the national authority of the German Federal Environment Agency responsible for the implementation of the market-based climate protection tools under the Kyoto Protocol. The “Current data” package for end-of-day information products provides access to the market data for the current and the previous year. Control areas serve as places of delivery for power contracts. Control areaĭefined grid area with regard to which a transmission system operator is responsible for balancing. the contract volume and the maturity date of the delivery. The contract specifications determine the design of a given contract, e.g. Tradable standardised unit of an underlying asset. Competing orders in the order book are prioritised, firstly by price and then time (price-time priority). As soon as two orders are executable they are matched immediately. In continuous trading, all orders in the order book are constantly checked for their executability. Continuous tradingįorm of trading for pricing and matching of buy and sell orders into trades. Transaction to close an existing buy/sell position on the Derivatives Market. A direct clearing license authorises the member concerned to clear transactions for its own account and to clear customer transactions as well as transactions by affiliated Non-Clearing Members. There are two forms of clearing membership: A general clearing license authorises the holder to clear transactions for its own account and to clear customer transactions or transactions by Non-Clearing Members. The clearing license is obtained through the conclusion of a corresponding clearing agreement with ECC. Participant in the clearing process who has a clearing license. The clearing house settles the transactions with the buyer and seller, carries out the delivery of transactions with these and collateralizes the transactions. This is a body which steps into the process chain between the buyer and seller in the capacity of the central counterparty. ClearingĬlearing refers to the financial and physical settlement of transactions. ![]() CER Spot and Derivatives Market products can be traded on EEX. CERĬertified Emission Reductions are emission credits generated by CDM projects in developing countries. CDM projects increase the total global quantity of emission credits. A CDM is a project-based mechanism which permits the execution of emission reduction projects in developing countries and the use of emission credits from these projects (CER) to ensure compliance with Kyoto commitments. The exclusively financial fulfilment of transactions is referred to as cash settlement. On their last trading day, these futures are replaced with equivalent positions in quarter or month futures. ![]() Positions in year and quarter futures are fulfilled through cascading. On EEX, brokers assume the arrangement of transactions concluded over-the-counter (OTC trades).Īn option granting the buyer the right to buy a certain number of the underlying security at the exercise price. Term for companies that do not conclude transactions for their own account but on behalf of a third party. Base loadīase load refers to the load profile of power deliveries with a constant output over 24 hours of every day of the delivery period. Balance area agreementĬontractual agreement between a system user and the transmission system operator/gas transmission operator regarding the settlement of power and natural gas deliveries. The account is managed by the so-called balance area coordinator who is responsible for deviations in the balance area. Balance areas are centrally managed by TSOs. Balance areaĮnergy volume account for power and natural gas in which feeding-in, withdrawals and transfers of energy to other balancing areas are recorded. The system is responsible for matching supply and demand and processes these in accordance with specific execution rules. The central trading system is called the back-end of the exchange. ![]() ![]() In auctions, all orders in the book are matched to form transactions at a given point of time. Trading form for pricing and matching of bid and ask orders into trades. At-the-moneyĪn option is “at-the-money” if the price of the underlying security equals the exercise price. If an option is exercised, the clearing house assigns a depositor of securities to the holder of the option through a "drawing of lots" procedure. ![]()
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