Green Certificates annoymous centralized spot market - Description
Characteristics:
- Trading is done online from the terminals of the market participants in each trading session, according to the trading schedule published on the OPCOM website;
- Market participants may enter tenders as follows:
- Offers for sale if they are producers of E-RES;
- Purchase offers can be introduced only by the licensees with the obligation to purchase the GC or the producers who are in the situation of not fulfilling the GC number for which they have a delivery obligation under a bilateral contract already signed. In order to obtain the right to enter GC, E-RES producers must notify OPCOM of the objective situation created and the number of GC they cannot fulfill under contractual obligations already assumed;
- The trading sessions organized by OPCV take place in two successive stages:
- Bidding stage, between 09:00 and 11:00;
- Establishing transactions stage and transmitting transaction Confirmations, on the trading session day.
- The identity of the Participants in the Trading is anonymous throughout the trading session;
- Bids are simple: quantity in GC (integer) - price in Lei / GC (four decimal places);
- The maximum number of GC in an offer is 10,000 GC;
- The GC number in a sale offer cannot exceed the number of GC available from the E-RES producer account;
- The market is open to licensed holders participating and complying the Green Certificates Market Participation Agreement;
- Throughout the trading session, Participants may enter, modify, and / or cancel their sales / purchase bids.
- After the trading session ends, the Market Operator publishes the results of the respective auction: the number of traded GC and the closing price of the market;
Succession activities:
- The stage of submission of bids is the stage during which the CV sales and purchase offers are transmitted, validated and registered in the Trading System according to the trading schedule;
- At the end of the bidding stage, the trading system shift to the establishing transactions stage, during which, the closing price of the GCACSM and the number of GC traded is determined. The allocation of the GC traded is done proportional to the existing offers in the market at the end of the bidding stage.
- Publication of the results on OPCOM SA website;
- Transmitting Transaction Confirmations;
- Invoicing and payment of the traded GC value;
- Transmission by Seller of self-signed confirmations for the transfer of GC traded from Seller to Buyer's account.
- Suspension and penalization of participants who do not concluded the transactions and the publication of the suspended participants on the website and the reason for the suspension;
- Transmission of the invoice for the trading price: in the first 3 business days of the month following the month in which the transaction was made;
- Payment of the invoice for the trading fee.
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