REGIS-TR today published a Frequently Asked Questions document on their forthcoming REMIT offering. REGIS-TR have applied to be a Registered Reporting Mechanism under REMIT, and already act as a Trade Repository under EMIR. The document can be found here.

The FAQ gives quite a few details on how the RRM will work, including the fact that it will accept data in “ACER XML” format, i.e. the format specified by ACER in which  they will themselves receive data. This means that those planning on using the facility can use these specifications to start planning a solution.

In all likelihood, some other RRMs will also use the same format. The impact of many adopting the same format is that it will be easier for market participants to switch from one RRM to the other, or to become a direct sender to ACER themselves. Using an RRM that adopts this format therefore represents a lower risk solution path.