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.