The Ministry of Environment and the Korea Exchange (KRX) announced that they will start a mock emission trading from Sep. 29 (Mon.), 2014 in order to successfully open an official Emission Trading Market in Jan. 2015.
- The mock market will be operated in two (2) phases until Dec. 24 (Wed.) based on an emission trading system to be developed by the KRX.
- Tasks to be done in the phase 1 include: system integration among KRX, Greenhouse Gas Inventory & Research Center of Korea, Koscom, and settlement banks; a test for submission of orders and execution of transactions by companies with emission allowance; and education for the companies on the mock trading.
- Tasks to be done in the phase 2 include: with the participation of all companies allotted with emission allowance by the Ministry of Environment, all through process of the emission trading from order placement and execution of transactions to clearing and settlement to be conducted in the environment as same as that of the real regular market.
- The mock trading market is expected to serve as a good opportunity for each company to experience the whole trading process in advance as companies will be allowed to directly get access to the KRX trading system from their place of business.
<Overview of the Mock Emission Trading Market>
1st phase (Sep. 29 Oct. 22)
- System integration among KRX, Greenhouse Gas Inventory & Research Center of Korea, Koscom, and settlement banks
- Submission of order and execution of transaction
- Education on mock trading
2nd phase (Oct. 27 Dec. 24)
- Order placement, execution of transaction, clearing and settlement
- Mock trading by year of implementation (1st, 2nd, and 3rd year)
- Checking test on carryforward, borrowing, application, approval, etc.
