Buying & selling units

Consus S.A. and Consus France S.A.R.L. are members of the Paris-based BlueNext exchange while Consus France S.A.R.L. is also a member of the Leipzig-based European Energy Exchange (EEX).

Consus Group is currently the only Polish entity with such a wide and direct access to the emissions trading market, which enables us to sell allowances to our clients at maximum prices offered during the day. All exchange and clearing fees are covered by Consus from the fee it receives from the client for conducting a transaction.

Trading in European Union Allowances (EUAs) takes place on exchanges and OTC market based on the IETA, EFET, and ISDA agreements. There are two types of transactions conducted in the market: spot and futures.

What is a spot transaction?

Spot contract is a legally binding agreement which is a commitment to make delivery/accept delivery of a standardized quantity and quality of an asset, at a specific price, with delivery and payment, which expires on the day of settlement.

To be brief, the transaction involves exchanging allowances into cash (in euro). One condition to conduct this transaction is having an allowance account and the possibility of administering your allowances. The advantage of spot is getting cash allowances and vice versa in virtually no time.

What is a futures transaction?

Futures contract is a legally binding agreement which is a commitment to:

• make delivery/accept delivery of a standardized quantity
• and quality of an asset, at a specific price,
• at a certain date in the future.

The remaining conditions of the contract are freely set by the counterparties in the bilateral market and standardized in the regulated market.
To sum up, on the day when a futures contract is concluded you do not have to have neither allowances nor cash, which you have to present on the “specified date” in the future. The advantage of a futures contract is the possibility to trade allowances an entity has only a right to, for instance sell allowances for 2010 already in 2009. Moreover, we can guarantee a price for an allowance, although we pay for it at a later date.