We are pleased to inform the account holders that the Phase 4 of the EU ETS was launched on 1 January 2021. It brings innovations in the functioning of the Union Registry. Please find below the important changes.

1. Authorized representatives

The role of the Additional Authorized Representative is not used anymore. The authorised representatives can have the role of initiator, approver or initiator and approver of the transactions and other processes. It is also possible to appoint an authorized representative with read-only access. The type of role was changed automatically on each account.

If you wish to change the roles of existing authorized representatives, please use this form.

At the same time, the so-called 4-eyes principle is being introduced - the processes in the Union Registry shall be initiated by one authorized representative and the other authorized representative has to approve it. The 4-eyes principle is mandatory without exception when working with the trusted account list and in case of transactions to the accounts outside the trusted account list. When performing transactions to trusted accounts, a account holder may decide not to use the 4-eyes principle. In this case, transactions carried out on trusted accounts are not approved by a second authorized representative.

Please use this form to adjust your trusted account list settings (ie 2 or 4 eyes principle).

2. Transactions

The 26-hour transaction delay is canceled. Transactions will be completed according to the following rules:

• If a transaction to an account in the trusted account list is approved (or initiated if it does not need to be approved) on business days between 10:00 and 16:00, it is completed immediately.
• If a transaction to a trusted account is approved (or initiated if it does not need to be approved) outside of business days between 10:00 and 16:00, it is completed the next business day at 10:00.
• If the transaction to the account outside the trusted account list is approved on business days before 12:00, it is completed at 12:00 the next business day.
• If a transaction to an untrusted account is approved on business days after 12:00 (for example, Monday 13:00), it is completed at 12:00 on the second following business day (Wednesday 12:00 in the example shown).
• If a transaction to an untrusted account is approved outside of a business day (for example, Sunday), it is completed at 12:00 on the second following business day (Tuesday 12:00 in the example shown).
• Account holders of Operator holding accounts or Aircraft operator holding accounts may decide whether to allow transactions from these accounts to accounts that are not on the list of trusted accounts.
  Please use this form to edit the settings of the trusted account list (ie allow transactions to untrusted accounts).

3. Accounts

Person holding accounts were automatically changed to trading accounts.

Frequently asked questions about the functioning of the Union Registry since January 2021 and answers to these questions are available here.