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ACER publishes list of RRMs approved by datatype

ACER have published this  list of RRMs, with columns marked by data type. The “data types” include the four tables in which trades can be reported as well as the fundamental data formats and others. The publication of RRM approval by data type was announced  recently by ACER at the public workshop, the notes for which can be … Continue reading

Pressure to tighten position limits rules

A group of NGOs have written this letter to Lord Hill, European Finance Commissioner, claiming that the proposed rules under MiFID II on position limits are not strict enough. This report on The Guardian web site also looks at the letter ,as does this report on The Economic Voice web site. Position Limits seek to … Continue reading

FCA MiFID II notes – some comments on timing

See here for a copy of the minutes from the FCA’s MiFID II Implementation Round Table.There are some interesting comments on the possible timing of changes to the Regulatory Technical Standards(RTS) around the Ancillary Activity test and Position Limits (20 and 21), which are important for the commodity and energy trading sector, as well as … Continue reading

Important answers in the latest REMIT Q+A

Last Tuesday saw the release of several documents just before the public workshop on REMIT reporting. Amongst the documents was a new version of the Question and Answer document on REMIT. This contained several important answers including:  A delay of the new “Inside Information” publication rules around REMIT until 1st January 2017 New important answers … Continue reading

MiFID II delay legislation process continues – with new proposal

Following the legislative proposal from the European Commission last week, highlighting the one year delay in the implementation of MiFID II, the European Parliament and Council has now also drafted their proposals, which can be found here and here. One of the documents also proposes a delay to the deadline for the transposition of MiFID II into national law, … Continue reading

Notes from the Public REMIT Workshop held on 16th February

See here for the notes  taken at Tuesday’s public REMIT workshop held at ACER’s premises in Ljubljana on 16th February. The notes attempt to cover the comments and questions discussed in the room. There are quite a few comments of interest, especially towards the end of the document. Several new documents were issued shortly before the meeting … Continue reading

EEX and Seven2one to jointly offer REMIT phase 2 reporting

EEX have issued this press release announcing an arrangement with the Seven2one, a software company, to provide REMIT off venue reporting services from 7th April. The service will be offered free of charge in 2016. Seven2one will use the RRM infrastructure of EEX to provide the service. There is also information on Seven2one’s web site … Continue reading

Interesting article on wash trades

See here for an interesting post on the Broadpeak Partners web site on the topic of wash trades. The post examines the updated version of ICE’s wash trade FAQ, which looks at the prohibition on wash trades in the US. In Europe REMIT, which outlaws wash trades in the wholesale gas and power markets, is already … Continue reading

New EMIR Q+A issued by ESMA

ESMA yesterday issued a new version of the Questions and Answers document on EMIR, which can be found here. There are two new answers: OTC 17 updates an answer related to “frontloading” requirements during the introduction on mandatory clearing. OTC 20 looks at the application of the clearing obligation when a swaption is exercised, creating … Continue reading

ESMA discussion paper and hearing on benchmark regulation

ESMA have issued this discussion paper regarding the upcoming benchmark regulation, which will amongst other things affect commodity benchmarks, primarily administrators of such benchmarks but in some cases also contributors. The rules propose that contributors that are “unsupervised” entities, i.e. Non Financial Counterparties, will be subject to a lower level of regulation. However, MiFID II may … Continue reading