A new release 52a of the Clearing Conditions has been published today. This new version of the Clearing Conditions introduces new rules on the usage of emission rights for collateralisation purposes. Core element of the new rules is to allow for collateralization of emission rights themselves and not only for pledged claims against ECC for delivery of emissions rights to another registry account. Consequently, such emission rights intended for collateralization and consideration as margin credit are held in a separate, dedicated registry account. The currently required holding period of 105 days will no longer apply accordingly. The changes are spread around the Clearing Conditions and can be detected using the redline version. The amendments will take effect as of 29 March, 2021.
The new version of the Clearing Conditions is available under https://www.ecc.de/ecc-en/about-ecc/rules.
ECC will inform about the operational details and the participation requirements by a dedicated circular within the next days.