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REMIT

Nordpool Spot RRM FAQs posted

Nordpool Spot (NPS)have recently posted their Frequently Asked Questions about their REMIT RRM on their web site, which can be found here. NPS intend to provide a “full” Registered Reporting Mechanism under REMIT, supporting the reporting of any type of trade, whether originating from their own platform, another Organised Market Place (OMP) or OTC trades. The offering is therefore over and above the “base” that an OMP is  obligated to offer under the REMIT Implementing Act.

It is interesting to note that NPS will only send data out of the system (to other RRMs) in “ACER XML”. The format is the one to be used by RRMs to forward data to ACER.  As already discussed on this blog, because of increased use, ACER XML may now become a defacto standard, where competitive offerings all use the same format. Standards in common use often required an industry wide “trigger” to build momentum, and this may well be such a trigger.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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