On January 19, 2011, the European Commission suspended transfers at all European Emissions Trading Scheme Registries until at least January 26, 2011. The suspension was due to recent security breaches at certain EU member state emissions registries. The UK Greenhouse Gas Emissions Trading Scheme Registry, which is the standard delivery facility for the Daily European Union Allowance (EUA) Futures (code EUL) contract, was subject to the suspension.
In light of these developments, Green Exchange issued to Clearing Members two Advisory Notices (# 1 & # 2), on January 20, 2011 and January 26, 2011 respectively, to Clearing Members, stating that the Green Exchange would halt the listing of new contract days for the Daily European Union Allowance (EUA) Futures contract (code EUL until information regarding the full scope of the potentially affected allowances was available. These notices can be found at: http://www.thegreenx.com/news/index.html
The EU Commission issued a statement on February 2, 2011 in which it stated that the emissions registries of France, Germany, the Netherlands, Slovakia and the UK would resume normal operations on Friday, February 4, 2011 at 7:00 a.m. GMT. A copy of this statement can be found at: http://ec.europa.eu/clima/news/index_en.htm
Despite the resumption of operations at the emission registries, however, a complete list of serial numbers of the EUAs that are alleged to have been unlawfully transferred is currently not available. As a result, the Green Exchange will continue the halt of the listing of new contract days for the Daily European Union Allowance (EUA) Futures contract (code EUL) until further notice. In addition, the Force Majeure event with respect to delivery for the January 19, 2011 contract day, declared by NYMEX, is still in effect.
These actions do not affect trading in any other futures or options products listed on GreenX.