Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

de Almeida, Lucila --- "Standardization of standard contracts: fairness in EU energy exchanges" [2020] ELECD 368; in Cantero Gamito, Marta; Micklitz, -W. Hans (eds), "The Role of the EU in Transnational Legal Ordering" (Edward Elgar Publishing, 2020) 155

Book Title: The Role of the EU in Transnational Legal Ordering

Editor(s): Cantero Gamito, Marta; Micklitz, -W. Hans

Publisher: Edward Elgar Publishing

Section: Chapter 8

Section Title: Standardization of standard contracts: fairness in EU energy exchanges

Author(s): de Almeida, Lucila

Number of pages: 25

Abstract/Description:

This chapter advances two claims. First, the EU has enacted a set of rules that affect the private order of organized markets and, in particular, the terms and conditions of standard contracts that daily frame thousands of global trades in exchanges located in the EU. Second, the EU explanatory justification for enactment of these rules is based on fairness. While EU law has advanced rules that, for example, standardize products offered in trading exchanges and reallocate risks among exchange members for misconduct, trading platform members have agreed upon transposing those rules into the text of standard agreements for trading. The phenomenon of mirroring the rules of EU law in the terms and conditions of standard agreements is what this chapter calls standardization of standard contracts. The standardization of standard contracts is then described as a twofold process: codification and intrusion.