See here for an interesting article on the Platts website which shares some of the information that came out at the recent public meeting in Ljubljana about REMIT (documented by ETR here), and examines how likely the rules are to uncover abuse. It also makes interesting comparisons with the US and how abuse has been dealt with there. While data will start to be reported from October 7th, the full picture will not emerge until the second deadline (for off venue trades) passes on 7th April 2016, and the regulator’s surveillance system is properly calibrated to find abuse.

Never the less, since regulators will now be receiving this data, many market participants are likely to pay more attention to the internal version of that data, and improve the surveillance procedures and technology around it.