The Carbon Emissions Exchange mainly provides trading venues and facilities for trading activities, and provides trading services and information for all parties involved in the transaction, including facilities such as trading systems, market systems, and communication systems, as well as related services such as information release, clearing and settlement.
(1) Transaction mode
From the perspective of the transaction mechanism, the current trading methods of the carbon emission rights exchange generally include auction transactions, bilateral agreement transactions, listed click transactions and declaration matching transactions. Based on this, various exchanges have developed public trading, auction trading, listed trading, online spot trading, listed selection, electronic bidding and bulk trading to conduct transactions. Combined with the descriptions in the trading rules of each exchange, roughly Sort out as follows:
(2) Settlement arrangement
The exchange generally clears and transfers transaction funds to its members and implements a third-party (i.e. settlement bank) depository system. The settlement bank assists the exchange to handle the settlement business of carbon emission trading funds, transfers the member's transaction funds based on the transaction vouchers and data provided by the exchange, and promptly feeds back the transaction funds transfer vouchers and related account changes to the exchange.
(3) Risk control mechanism
In order to strengthen the transaction risk management of various carbon emission rights exchanges, each exchange has established a variety of risk control mechanisms for the relevant trading models to varying degrees, including the increase and decrease limit system, the quota maximum holding limit system, and large account reports System, risk warning system, risk reserve system, etc. to control the risks that may arise in transactions.
