"...settlement of emissions commodity transactions on the EETP will conform to the requirements of the body responsible for the administration of the scheme..."
The Trading Process
In Market
Orders entered onto the Electronic Emissions Trading Platform (EETP) attain the status of "In Market". The order will remain "In Market" until it expires (as per the time limit) or is matched with a Buy or Sell Order. If the order is matched its status will then change to "Traded" and a settlement process (see below) will begin with confirmation sent to respective parties.
Part Filled
A Part Filled Order is an order that has been partially traded. You can amend or cancel the remaining untraded part of a Part Filled Order.
Settlement Process
The selling Broker issues all valid documents necessary for the emissions commodities to be registered in the name of the buyer.
Upon receipt of the valid transfer documentation, the buying Broker will instruct their respective accounts department to pay the selling Broker the consideration for the emissions commodity from the relevant Settlement Account. After completing all relevant transfer documents the buying Broker will immediately post the signed documentation to the selling Broker in order to notify the Registrar of the emissions transfer.
Settlement will occur on a transaction plus 5 day basis (T+5 day basis), unless agreed otherwise. The settlement of emissions commodity transactions on the EETP will conform to the requirements of the body responsible for the administration of the scheme, program or statute that gives rise to the emission commodity.