Yesterday ACER issued the fourth version of their Questions and Answers document on REMIT, which can be found here.

Compared to the previous version from February, the following has been added/changed:

PPATs vs OMPs – REMIT contains the classification of an Organised Market Place (OMP) and a PPAT (Professional Person Arranging Transactions). OMPs have certain requirements that PPATs may not. Paragraph II.3.7 discusses the possible link between the two.

Market Participant Obligations – Paragraph II.4.2 outlines the obligations that are activated by the Implementing Act, which are reporting (after the relevant deadline) and registration.

Information on becoming an RRM – A whole new section has been added on the registration, testing and certification process around becoming an RRM, in section III.2 Many issues about the mechanics of registration, and testing are contained here.

Information on file submission and contents – paragraphs III.3.4 to III.3.9 talk about issues related to the contents of files under certain scenarios (e.g the EIC code to use) as well as how to break up or combine files with many trades. Paragraph III.6.2 confirms that balancing contract reference data will not be collected.

Inside Information publication – there is a bit more information about the proposed changes to the publication of Inside Information, which currently occurs on web sites. Paragraph II.3.10 announces that further information will be published in Spring/summer 2015.

Other – Section III.8 briefly discusses how information on the goings on at ACER in relation to REMIT may or may not be discovered.