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REMIT

100 days to go until REMIT Reporting Phase 1

As shown on the clock on the REMIT Portal, there are 100 days to go until the first reporting deadline of REMIT, for “on venue” orders and trades. By that date, market participants will need to ensure that all orders and trades arising on one of the Organised Market Places(OMPs) listed by ACER.

The task of choosing how to send data to ACER, whether by instructing each OMP to send it to ACER, getting OMPs to send the data to an RRM, uploading the data and sending it yourself  to an RRM(using software), or another model, must be completed as soon as possible. Offerings are only now being announced, which does not give very long to make a choice, close the agreements and implement. A solution also needs to be found for reconciliation and the sending of post trade events.

A  full market report will soon be issued that looks at  the different possible models that can be adopted to comply with the requirements, and the various solutions available.

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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