EU Emissions Trading System: Procurement of an opt out auctioning platform and related services by the UK Government

The Auctioning Regulation also sets out the detailed requirements for the auctioning of aviation and phase III general allowances. Details of the provisions of particular importance are included in the ITT but the preferred supplier will be expected to follow the provisions set out in that Regulation as a whole and in particular should note that: -The service of auctioning of allowances pursuant to Article 27 of the Auctioning Regulation will be paid through fees paid by the persons admitted to bid in the auctions and successful bidders in the auctions, pursuant to Articles 51 and 52 of the Auctioning Regulation. -Tenderers should in particular take note of the following provisions of the Auctioning Regulation: - Pursuant to Article 27(2) '(...) the auction platform shall be connected to at least 1 clearing system or settlement system', - Pursuant to Article 35(1) 'Auctions shall only be conducted on an auction platform authorised as a regulated market whose operator organises a market in allowances or allowance derivatives'. In addition, Articles 35, 36, 43, 55 and 56 of the Auctioning Regulation provide further requirements on authorisation, notification, supervision and enforcement of the auctioning activity. -The contractor will also be required, among other things, to demonstrate that the clearing system or settlement system connected to the platform is designated pursuant to the Directive 98/26/EC of the European Parliament and of the Council on settlement finality in payment and securities settlement systems.