Of course, the mechanisms that we legislated for last year support price stability in the auction itself, which would be known as the primary market. But one of the features of the ETS is the creation of a secondary market where already issued units can be traded between various buyers and sellers. Put simply, the primary market is where a unit changes hands for the first time; whereas the secondary market comprises all subsequent transactions. These secondary markets are crucial to the functioning of the emissions trading scheme, not least because they provide a means for participants to sell surplus units, which creates a powerful incentive to reduce emissions. But for that incentive to exist over the long term, which is a prerequisite for any organisation looking to make low-carbon investments, the secondary market needs to remain stable. And that's what this bill is for.