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Template REMIT reporting agreements for OMPs published by JEAG and LEBA

The Joint Energy Association Group (JEAG) and London Energy Brokers Group have published a template that can be used for a reporting agreement for Organised Market Places under REMIT. The press release can be found here.

The template can be used on a bilateral (here) or trilateral (here) basis and is intended to be used by non exchange OMPs (as outlined in the press release). If used bilaterally, the market participant would be appointing the OMP to report data to ACER for them wherever possible. It is understood that some broker OMPs are planning to offer to use variations of this agreement. If used on a trilateral basis, the market participant can use the agreement to ask the OMP to send the data to another RRM (so long as the agreement is suitable for use with the RRM).

The agreements have been drafted so that the parties can modify them as required.

The use of the agreements, and the model suggested by them, are one of several modes in which the reporting required by the first phase of REMIT can be met.  There are also several other combinations, such as the market participant uploading the data from the OMP and sending it to the RRM themselves. A report will soon be issued examining these options.

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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