Transaction rules

Transactions in the registry are bound to certain transaction rules (a table summarizing these rules can be found below):

  • Accounts can have between two (mandatory minimum) and four authorised representatives (ARs). In addition, up to three so-called Additional Authorised Representatives (AARs) may optionally be assigned.

    If at least one AAR has been designated for an account, any transaction proposed by an Authorised Representative (AR) needs to be confirmed by an AAR (the four-eyes-principle) regardless whether this account is on the TAL or not.

    If at least one AAR has been designated, any addition of an account to the trusted accounts list (TAL) needs to be confirmed by an AAR as well (otherwise confirmation needs to be done by a second AR).

    Surrendering and exchange transactions, as well as voluntary cancellation of Kyoto certificates and deletion of EU allowances always need to be confirmed by a second person. If no AAR has been designated, another AR needs to confirm the transaction.
  • Each user account has a specific list of trusted accounts. ARs can add new accounts to or remove accounts from this list.

    A second person always needs to confirm a change (add/remove) to the TAL!
    • If an Additonal Authorised Representative (AAR) has been designated on the account, he needs to approve the change to the TAL.
    • If no AAR has been designated on the account, a second Authorised Representative (AR) needs to approve the change to the TAL.

    The addition of a new account to the list of trusted accounts only takes effect after a delay of seven business days (+ 2 hours) taking into account the fixed time window (also see further).

    Example: An addition to the TAL confirmed by an AR/AAR on Monday September 5, 2016 at 17:45 CET will hence become effectively trusted on Thursday September 15th, 2016 around 12:00 CET.

    Transactions from operator holding (OHA), aircraft operator holding (AOHA) and personal holding (PHA) accounts can only be executed to accounts that are included in the TAL, even if one or more AARs have been appointed for these accounts.

    Surrendering and exchange transactions, as well as voluntary cancellation of Kyoto certificates and deletion of EU allowances are not bound to this restriction. These transactions do not require the target account being added to the TAL.

    All accounts of the same Account Holder in the same national registry are automatically added to the TAL. An operator with multiple accounts in the same national registry does hence not need to add any of these accounts to the TAL of any other of these accounts as this was done automatically.

    Only trading accounts (TA) can make transactions to accounts that are not on the TAL. In this case, they need to have an AAR designated, who must approve the transaction (four-eye-principle). Trading accounts (with AARs designated!) are hence the only accounts that are not subject to the seven working days TAL delay for transactions.

  • Attention: a transaction is only initiated after its approval when approval is required.

    Transactions in the Union Registry are processed on business days from Mondays to Fridays 10:00 to 16:00 Central European (summer) time (CET/CEST). The actual initiation of transaction started outside these business hours occurs only at 10:00 hours CET/CEST of the next business day.

    Example: A transaction introduced (and approved) on Friday at 16:31 CET will hence be initiated on Monday at 10:00 CET only, if that Monday is not a public holiday.

    Surrendering and exchange transactions, as well as voluntary cancellation of Kyoto certificates and deletion of EU allowances are not bound to this restriction. They will be executed immediately.
  • Important: a transaction is only initiated after its approval when approval is required.

    An initiated transaction will complete only after 26 hours. This delay is deferred on Saturdays, Sundays and public holidays. An initiated transaction on a day before a Saturday, Sunday or public holiday (and before 16h CET) will only be completed on the next working day, two hours later than the time when it has been initiated.

    Surrendering and exchange transactions, as well as voluntary cancellation of Kyoto certificates and deletion of EU allowances are not bound to this restriction. They will be executed immediately.

    The fixed delay is also not applicable for a transaction from a trading account (TA) with one or more designated AARs if the transaction is made towards an account on the TAL of the TA and if the transaction has been confirmed within the working hours on a working day. In this case the transaction, once confirmed by an AAR, is executed without the 26 hours delay.

    Example: A transaction initiated on Friday at 15:31 CET from an operator holding account (OHA) will hence be completed on Monday at 17:31 CET, if that Friday and Monday are not a public holiday.

  • The actual initiation of any transaction introduced (and approved) during the weekend or on a public holiday occurs only at 10:00 hours CET/CEST of the next business day.

    Surrendering and exchange transactions, as well as voluntary cancellation of Kyoto certificates and deletion of EU allowances are not bound to this restriction. They will be executed immediately.

    In addition to Saturdays and Sundays, the following days until the end of 2017 are not considered as business days:

    • 2017-01-01: New Year
    • 2017-04-16: Easter
    • 2017-04-17: Easter Monday
    • 2017-05-01: Labor Day
    • 2017-05-25: Feast of the Ascension
    • 2017-06-04: Pentecost
    • 2017-06-05: Pentecost Monday
    • 2017-07-21: Belgian National day
    • 2017-08-15: Assumption of Mary
    • 2017-11-01: All Saints' Day
    • 2017-11-11: Armistice Day
    • 2017-12-25: Christmas

    In addition to Saturdays and Sundays, the following days until the end of 2018 are not considered as business days:

    • 2018-01-01: New Year
    • 2018-04-01: Easter
    • 2018-04-02: Easter Monday
    • 2018-05-01: Labor Day
    • 2018-05-10: Feast of the Ascension
    • 2018-05-20: Pentecost
    • 2018-05-21: Pentecost Monday
    • 2018-07-21: Belgian National day
    • 2018-08-15: Assumption of Mary
    • 2018-11-01: All Saints' Day
    • 2018-11-11: Armistice Day
    • 2018-12-25: Christmas

    Example: A transaction initiated on Friday May 18, 2018 at 11:21 CET will hence be completed on Tuesday May 22, 2016 at 13:21 CET as Pentecost Monday (May 21, 2016) is a public holiday.

  • As indicated in the previous items already, specifc rules exist for surrendering and exchange transactions, as well as for voluntary cancellation of Kyoto certificates and deletion of EU allowances. These transactions are executed without delay and disregarding business hours; moreover they always require validation by a second person (a second AR if no AAR has been designated).

TAL change / Transaction confirmation

After any change in the Trusted Account List (TAL) or after introduction of a transaction by an Authorised Representative (AR) that requires approval by a second person, a task is generated in the registry task list.

This task needs to be approved by an AAR if an AAR is designated on the account, otherwise this task needs to be approved by a second AR.

Also see the page on task management in order to approve the task.

Summary table on transaction rules

Some of the above transaction rules are only applicable to certain accounts or only to specific situations (ex. the designation of an AAR). The table below gives an overview based upon the account type:

Transferring accountAcquiring account on TAL?AAR designated?26h delay before completion?
OHA - AOHA - PHAYesOptionalYes
NoTransaction not possible
TAYesOptionalNo
NoYesYes
NoTransaction not possible

If an AAR has been designated, any addition of an account to the trusted accounts list (TAL) and any transaction needs to be confirmed by an AAR.
The 26h delay starts only counting during business hours on working days (and after AAR approval if AAR approval is required).
Surrendering, exchange, voluntary cancellation of Kyoto certificates and deletion of EU allowances are executed without delay and disregarding business hours. These transactions always require approval by a second person (a second AR if no AAR has been designated).