Auctioned productsU.K.
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Memorandwm Esboniadol
4.—(1) Allowances may be offered for sale on an appointed auction platform by means of standardised electronic contracts, and for the purposes of these Regulations, “the auctioned product” means the standardised electronic contract for one or more allowances.
(2) Allowances sold on an auction platform may take the form of either two-day spot or five-day futures.
(3) Bidders at an auction of allowances must submit their bids during one bidding window without seeing bids submitted by other bidders.
(4) Each successful bidder must pay the same auction clearing price referred to in regulation 7 for each allowance regardless of the bid price.
Commencement Information
I1Reg. 4 in force at 22.4.2021, see reg. 1(2)