Task 2: Trading Registry
Michigan Water Quality Trading Rules - applicable rule for trading registry
The project will develop and demonstrate the application of a model electronic board of trade based on Michigan's trading rules. This will consider electronic reporting (notices) for the generation and use of credits, informational requirements, certifications for truth and accuracy, and password and security provisions. It will be designed for Internet access to reduce administrative and transactions costs, and provide real time information on trades. Agricultural reductions and other urban stormwater partner applications will be used to test the registry design through NutrientNet linkages.
The goal will be a fully functional registry model based on Kalamazoo River applications. It will be offered to Michigan for adoption and made available to other states, tribes and the EPA.
Registry development will involve a series of iterative steps including:
a) Develop the conceptual framework
b) Design the initial framework around Michigan's Trading Rules that specify the required elements of the registry
c) Make the prototype registry publicly accessible
d) Verify the registry functionality with project results and finalize framework design
e) Conduct public trades on the registry.
Michigan DEQ - Applicable Water Quality Trading Rules
The following rules are applicable to Task 2:
Notification requirements for generation of discharge, load reductions, and registration of credits (R 323.3019)
Notification requirements for the registration, use, and trading of credits (R 323.3020)
Water quality trading registry (R 323.3021)
DRAFT Water Quality Registry and Trading Program conceptual framework - 01/31/2006 (PDF)
