Handelsbedingungen 0056a - Englisch

Trading Conditions

The English version is for information purposes only. The German version is legally binding.

01.10.2020 Leipzig

Release 0056a

Table of Contents

1.	General Provisions		4
§ 1	Scope of Application; Types of Trades		4
§ 2	Exchange Days, Trading Hours, Business Hours and Settlement Days		4
§ 3	Products		4
§ 4	Binding Nature of Transactions		5
§ 5	Delivery and Acceptance Periods		5
§ 6	Settlement and Fulfilment of Transactions		5
§ 7	Contractual Relationships		6
§ 8	(repealed)		6
§ 9	Cancellation of Trades and Orders		6
§ 10	Objections against Transactions		6
§ 11	Provisions regarding Access; Availability of Exchange Traders		7
§ 12	Transmission of Orders		7
§ 13	Trading on Behalf of the Exchange Participants (Trading on Behalf)		7
§ 14	Technical Problems within the Trading Systems of EEX		8
§ 15	Technical Disruptions concerning a Exchange Participant		8
2.	General Provisions for Trading on the Spot and Derivatives Markets of EEX	10
§ 16	Scope of Application		10
§ 17	Products, Forms of Trading and Trading Systems		10
§ 18	Types of Orders		10
2.1	Special Provisions for Continuous Trading within the T7 Trading System	11
§ 19	Trading time and trading phases		11
§ 20	Order types		11
§ 21	Quotes		12
§ 22	Combined instruments		12
§ 23	Trading Limits; Deactivation of Products		13
§ 24	Execution and Management of Orders		13
§ 25	Order Execution		14
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§ 26	Execution of Market Orders	15
§ 27	Execution of Limit Orders	16
§ 28	Execution of Stop Orders	16
2.2	Special Provisions for Trading within the Spot Market Trading System Trayport® ETSSM	17
§ 29	Trading Type, Trading Time and Trading Phases	17
§ 30	Order Types	17
§ 31	Combined Orders	19
§ 32	Trade Limits	19
§ 33	Recording and Administration of Orders	19
§ 34	Execution of Orders	20

2.3 Special Provisions for Primary Auctions of Allowances in Accordance with the Provisions of

	the Auctioning Regulation within the M7 Auction System*	20
§ 35	Priority of Provisions	20
§ 36	Execution of Auctions	20
§ 37	Auction Calendar	21
§ 38	Bidders and Order Types	21
§ 39	Pricing and Execution of Orders, Cancellation	22
§ 40	Measures by the Management Board of the Exchange	23
2.4	Special Provisions for Secondary Market Auctions of Allowances	23
§ 41	Applicable Provisions for Secondary Market Auction	23
2.5	Position Account-Keeping for the Exchange Participants	23
§ 42	Position Administration	23
3.	Final Provisions	25
§ 43	Place of Performance	25
§ 44	Effective Date	25
Appendix:	Contract specifications	26

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1. General Provisions

§ 1 Scope of Application; Types of Trades

1. The following trading conditions shall govern all Spot and Derivatives transactions, which are concluded on the European Energy Exchange (EEX).
2. The products of EEX are traded in closed auction1, in open auction or in continuous trading with and without open auctions.

§ 2 Exchange Days, Trading Hours, Business Hours and Settlement Days

1. Exchange Days are all days from Monday through Friday which are not holidays. Holidays are determined by the Management Board of the Exchange - possibly different for products - and published in the annex to the Contract Specifications (Holiday Calendar). Trading on EEX shall generally take place on Exchange Days.
2. The business hours are from 7:45 am until 06:00 pm on every Exchange Day of EEX. Trading hours are those times during which the products can be traded at EEX. The Management Board of the Exchange announces the trading hours for the individual products which can be traded at EEX.
3. Trading on EEX shall generally take place on Exchange Days during trading hours. Trading is also permitted on days which are not Exchange Days provided this was announced by the Management Board of the Exchange in due time. The Management Board of the Exchange can also specify with regard to individual products that these are not tradable on all Exchange Days.
4. Settlement Days are the days on which financial and/or physical settlement of the transaction on EEX is effected by European Commodity Clearing AG (ECC AG) (ECC business days). ECC AG publishes a list of days from Monday to Friday, which are not ECC business days.

§ 3 Products

1. Products are contracts which have been admitted to spot or derivatives trading on EEX by the Management Board of the Exchange.
2. The contracts, which are admitted to spot or derivatives trading on EEX, are stipulated in the contract specifications attached to these trading conditions.
3. The latest version of the contract specifications appended to these trading conditions is an integral part of these and, hence, forms the basis for all business carried out on EEX.
4. The contract specification for a product tradable on EEX may be amended by the Exchange Council provided that no open positions of the Exchange Participants are affected. Notwithstanding Article 6 Paragraph 2, contract specifications of derivatives market products whose tradability on EEX is at least 4 calendar years may also be amended for existing open positions if the concerns of the holders of open positions have been adequately taken into

1 Including the primary auctioning of allowances in accordance with Commission Regulation (EU) No 1031/2010

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