Overview
The negotiated trading is a method of executing a transaction according to the terms on the issue, quantity and price that were agreed upon between the parties involved prior to submitting quotations.
Trading Hours and Quotation Quantity
The quotations for negotiated trading are received from 10:00 to 11:30. The quantity for negotiated trading ranges from one thousand to one million emissions permits.
Price Range
The quotations for negotiated trading can be priced from the upper daily limit to the lower daily limit.
Restriction on Negotiated Trading:
  • Members should submit the quotation concerned within 60 minutes after the negotiation completed.
  • When submitting quotations for negotiated trading, there should be just one member for each of bid and offer.
  • After being submitted, the quotations for negotiated trading cannot be corrected.
Execution Methods
When quotations are submitted through the order input program of the emissions trading system according to the terms on the issues, prices and quantities, agreed upon between members, the Exchange executes the trading of the quotations.
Disclosure of trading information
Trading volume is announced real time, whereas total trading value is disclosed after market closing.
Bulletin Board

A member who wants to trade emissions permits of 1,000 tons or more may post the information on suggested price, bid/offer quantities, etc. in Bulletin Board without disclosing his/her name to conduct negotiations with other members.


A member should log on to the order input program, go to Bulletin Board of the main screen, negotiate price and quantity with other members, confirm the contact point of a counterparty through the Exchange, and then submit the quotation via negotiated trading system.