This regulation introduces a unique auctioning platform for the third period of the emission trading system, starting from 2012. Auctioning is considered the most efficient tool to trade allowances. It should be based on a clear and predictable mechanism easily understandable to all market operators, which include small and medium undertakings. Even though the aim is to set up a European harmonized market, Member States are allowed to opt out in order to establish pure domestic auctioning platforms provided that the Commission has a general power to control them.
See also the regulation