For security reasons, a number of transactions in the Danish EU ETS Registry and the Danish Kyoto Registry are covered by transaction delay. However, the transaction delay differs depending on the type of the transaction.
Trusted transactions (transfers to accounts on the trusted account list)
The default setup for operator holding accounts and aircraft operator holding accounts requires two account representatives to execute transactions to accounts on the trusted account list. One account representative with initiating right and another one with approving right. However, an Account holder can apply to change the setup on account(s) so that trusted transactions can be executed by one account representative with initiation and approval right.
An application for allowing transactions to accounts on the trusted account list to be executed by only one account representative, must be sent to The Danish Business Authority. For further information contact The Danish Emission Trading Registry.
Be aware that trusted transactions, executed by one account representative cannot be stopped.
Trusted transactions involving two account representatives cannot be stopped after it has been approved by the second account representative.
Trusted transaction that can be executed by only one account representative:
- One account representative with initiating/approving rights executes the transaction.
- The transaction cannot be stopped.
Trusted transaction that requires two account representatives:
- One account representative with either initiating right or initiating/approving rights initiates the transaction.
- The transaction awaits approval on the task list.
- Another account representative with either approving rights or initiating/approving rights approves the transaction.
Transactions delay - Trusted transactions
Be aware that trusted transactions, executed by one account representative cannot be stopped.
Trusted transactions involving two account representatives cannot be stopped after it has been approved by the second account representative.
See further details in the table here below:
| Transaction is approved | Transaction is executed in the registry |
|---|---|
| Work days before 10am | At 10am the same day |
| Work days 10am-4pm | Executed immediately |
| Work days after 4pm | At 10am the first coming work day |
| Weekends and holidays | At 10am the first coming work day |
Direct transactions (transfers to accounts not listed on the trusted account list)
Account holders of operator holding accounts and aircraft operator holding accounts, can apply to change the setup on their account(s) so that transactions may be executed directly to an account that is not on the list of trusted accounts. This option is default setup for Trading accounts.
Direct transactions always require two account representatives involved.
- One account representative with initiating right and another one with approving right
- One account representative with initiating right and another one with initiating/approving right
- One account representative with initiating/approving right and another one with approving right
- Two account representatives with initiating/approving right
An application for allowing direct transactions on holding accounts must be sent to The Danish Business Authority. For further information contact The Danish Emission Trading Registry.
Direct transaction requires two account representatives:
- One account representative with either initiating right or initiating/approving rights initiates the transaction.
- The transaction awaits approval on the task list.
- Another account representative with either approving rights or initiating/approving rights approves the transaction.
Transaction delay - Direct transactions
Direct transactions are always covered by transaction delay.
Account representatives can stop a direct transaction up to two hours before the transaction would be executed in the registry. Thereafter, the transaction cannot be stopped by account representatives. In critical situations, account representatives or account holders can contact the Danish Emission Trading Registry team and request them to cancel the transaction. The Danish Emission Trading Registry team is able to cancel direct transaction up to the time of execution in the registry.
See further details in the table here below:
| Transaction is approved | Transaction is executed in the registry |
|---|---|
| Work day before 12 noon | At 12 noon the first coming work day |
| Work day after 12 noon | At 12 noon two work days thereafter |
| Weekends and holidays | At 12 noon two work days thereafter |
Transactions in the Kyoto registry
For Kyoto accounts there is a difference between whether an account only has account representatives (AR) or if one or more additional account representatives (AAR) are attached to an account.
If no additional account representative (AAR) is attached to an account, an account representative (AR) can carry out transactions without the approval of another AR by using the trusted accounts function.
If additional account representatives (AARs) have been designated, they must approve all transactions.
An AAR cannot initiate transactions.
The account holder is free to choose whether to associate AARs with its account. If one or more AARs have been designated, however, they must be used.
The designation of one or more AARs means that the initiation by an AR of a transaction to an account on the list of trusted accounts must be approved by an AAR. This is a "four-eyes principle" in which the AAR serves as an extra security measure.
Transaction on Kyoto account with only AR attached:
- One AR executes the transaction.
Transaction on Kyoto account with both AR and AAR attached:
- One AR initiates the transaction.
- The transaction awaits approval on the task list.
- An AAR approves the transaction.
Transaction delay in the Kyoto registry
For security reasons, transactions in Danish Kyoto Registry are covered by a 26-hour transaction delay.
The transaction delay is a security measure. Once a transaction has been initiated (see Carrying out transactions), the 26-hour transaction delay begins to count down. As transactions may only be initiated Monday–Friday between 10 am and 4 pm, the transaction delay will expire and enable the transaction to be implemented Monday–Friday between 12 noon and 6 pm. The transaction delay cannot expire on a Saturday or a Sunday or on the national public holidays. This means that the transaction-delay process will be suspended on the following days between 0 am and 12 midnight:
See further details in the table here below:
| Transaction is approved | Transaction is axecuted in the registry |
|---|---|
| Monday – Thursday before 10am | At 12 noon the first coming work day |
| Monday – Thursday from 10am – 4pm | 26 hours after the time of approval |
| Monday – Wednesday after 4pm | At 12 noon two work days thereafter |
| Thusrdays after 4pm and Friday before 10am | Monday at 12 noon |
| Friday from 10an – 4pm | Monday at the time of approval + 2 hours |
| Friday after 4pm and Monday before 10am | Tuesday at 12 noon |
Transactions between the EU ETS Registry and the Swiss Emission Trading Registry
It is possible to perform both direct transaction and trusted transactions between the EU ETS Registry and the Swiss Emission Trading Registry and the procedure follows the same rules as for transactions between EU accounts.
You can read more about direct- and trusted transactions on this page in the sections 'Direct transactions (transfers to accounts not listed on the trusted account list)' and 'Trusted transactions (transfers to accounts on the trusted account list)'.
Transaction that can be performed between the two registries
- Transfers of EU General Allowances (EUA), EU aviation allowances (AEUA), Swiss general allowances (CHU) and Swiss aviation allowances (CUHA) to the Swiss Emission Trading Registry
- Transfers og EU General Allowances (EUA), EU aviation allowances (AEUA), Swiss general allowances (CHU) and Swiss aviation allowances (CUHA) to the EU ETS Registry.
- Transfers of Swiss allowances between EU accounts.
Transaction delay to and from Swiss accounts
Transactions to and from the Swiss Emission Trading Registry are executed on specific dates.
However, transactions can be initiated at any time but will not been executed until the next predefined date. The transaction delay is the same as for direct- or trusted transactions, but with additional 24 hours delay.