auction process
as defined in Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing…, Article 3, point (16) (Definitions)
the process encompassing the setting of the auction calendar, the procedures for admission to bid, the procedures for submission of bids, the conduct of the auction, the calculation and announcement of the auction results, the arrangements for payment of the price due, delivery of the allowances and management of the collateral needed to cover any transaction risks, as well as the surveillance and monitoring of the proper conduct of the auctions by an auction platform