The
Technical Rules describe the technical procedures for participating in GME’s
Emissions Trading Market and how to notify the amount of the initial deposit and the quantity
of emission units provisionally transferred to GME’s account in the APAT Registry.
APAT took on the name of ISPRA, “Istituto Superiore per la Protezione e la Ricerca
Ambientale” (environmental protection and research institute), under law 133/2008.
GME acts as a central counterparty in all transactions
made in its Emissions Trading Market. The role of central counterparty assigned to GME completely eliminates the counterparty
risk and simplifies the administrative-accounting tasks
associated with participation
in a regulated market
WHAT CHANGES:
Before the market session
To trade in the market, buying Market Participants are required to make a single
payment to GME as initial deposit guaranteeing all of their purchases.
The trading system will accept trading orders only if they are completely covered
by the available deposit.
The trading system will automatically compute the value of the transaction (including
VAT) in order to update the available deposit during the session, confirm the execution
of transactions and perform administrative-accounting tasks (for details please
refer to Technical Rule no. 05 rev2 EM: Invoicing of fees).
After the market session
a) sellers will issue a single invoice to GME, acting
as purchaser;
b) purchasers will receive a single
invoice from GME.
The number of GME's holding account in the ISPRA Registry (ex APAT) is as follows:
IT-121-2393-0
The initial deposit must be made to the account of "Gestore dei Mercati Energetici
SpA" with the bank
Banca Popolare di Sondrio
Società Cooperativa per Azioni
Viale Cesare Pavese, 336
00144 – Roma
Bank details
C/C: 000007230X56
ABI: 05696
CAB: 03211
CIN: M
IBAN: IT22 M056 9603 2110 0000 7230 X56
CODICE SWIFT: POSOIT22
On this account, GME will grant operators an interest rate equal to
the one-month Euribor rate (act/365), calculated as the average of the
quotes of the rate for each day of the reference month, less 10 basis points.
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