ACER have launched a consultation on the list of Organised Market Places(OMPs) that will be included in the first phase of REMIT reporting currently set to go live next September/October.

The latest version of the Implementing Act tasks ACER to produce such a list. ACER are also obliged to draw up a list of “standard” contracts.

There is the expectation in the document that most reporting will be via the OMPs in the first reporting phase. However many in the market are likely to opt to report using other routes, for two reasons:

Firstly, because in many cases the OMP will not have all of the data, for example beneficiary information.

Secondly, because in many cases (particularly with broker platforms) the OMP does not know about post trade events. In that case it may be easier for the market participant to report all required parts of the lifecycle using another route, rather than relying on the OMP.

The consultation closes on 11th December, and the documents can be found here.