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Under an emissions cap and trade program, each allowance entitles the holder to emit some amount of gas such as carbon. Sources that emit less than their emissions cap can sell allowances to those sources needing to purchase additional allowances to comply with the cap. Emission sources can then decide whether to control emissions through control technology or through allowance surrender to meet compliance.
Please post comments, clarifications, examples here. Click on the edit button on the right and away you go!
Don't forget to refer to the FPL Discussion Groups to back up anything you write. You will often find the authoritative statements on matters of FIX specification interpretation there. Links from FIXWiki pages to relevant discussions on the FPL site are very valuable.
For example if you were writing a clarification on how to specify the "quantity" of an order in FIX, you might add the following relevant link, http://www.fixprotocol.org/discuss/read/f5014573, to back up your points.