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REMIT Phase 2 Master Class

There are still a few places left on the upcoming REMIT Phase 2 Master Class  being run by ETR Advisory and Entrima that takes place in London this Monday 22nd February. For further details see here. To book a place contact Entrima at info@entrima.org. The class will look at the phase 2 requirements in detail, including … Continue reading

Several updated documents published by ACER

The public workshop on REMIT data reporting at ACER’s office in Ljubljana has just finished. Shortly beforehand ACER issued new versions of several documents including: Updated examples document (TRUM Annex II) New XML examples Updated guidance on UTI generation (TRUM Annex IV)  Questions and Answers Document  FAQs on transaction reporting Notes from the meeting will … Continue reading

Opening up trade reporting data

See here for an article on Markets Media that summarises various comments on the state of trade repository data, as well as the desire to synchronise standards across rules and make them clearer. EMIR reporting started over two years ago, and yet it is proving difficult for regulators to read the data due to differing … Continue reading

MiFID delay reactions

Last week saw the legislative proposal from the European Commission to delay the implementation date of MiFID II by one year, effectively confirming the delay. This article on the Bloomberg web site quotes many who have issues with the way in which the delay has been introduced. For example, the new date is an absolute … Continue reading

EMIR reporting is two years old today

It is now two years since EMIR reporting started, on 12th February 2014.From that day, derivatives trades and life-cycle events had to be reported to an authorised Trade Repository (TR), within T+1. There were many uncertainties and open questions leading up to the go live, culminating in ESMA issuing a new version of the EMIR questions … Continue reading

Commission publishes legislative proposal for MiFID II delay

The European Commission have today published this press release together with a legislative proposal for the delay of the application of MiFID II by one year to January 2018. The legislative documents can be found here and here. The news follows a few weeks of discussion about the delay, with some speculation that it would be … Continue reading

EEX and Powernext launch OTFs in advance of MiFID II

EEX and Powernext have announced new trading venues that will be ultimately classified as Organised Trading Facilities(OTF) under MiFID II. The announcement can be found here. The OTF is a new type of venue introduced by MiFID II which generally is different to a Multilateral Trading Facility (MTF) in that it encompasses an element of discretion, … Continue reading

MiFID II criticism

While we await further news on when we can expect clarity on MiFID II, there has been some further criticism in the ongoing debate on the rules. This article on the Reuters web site reports on comments made by Tracey McDermott, acting chief executive of the FCA on the position limits rules. Under MiFID II, most commodity … Continue reading

Less than two months to go until REMIT phase 2

We are now less than two months away from the start of “REMIT Phase 2”, on April 7th. From this date market participants in the European wholesale gas and power markets will need to report the details of all contracts and trades that are not traded on an Organised Market Place(OMP) to ACER,  via a … Continue reading

Speech by Kay Swinburne MEP on MiFID II for the commodity markets

See here for a copy of a speech made by Dr Kay Swinburne MEP on the impact of MiFID II on the commodities markets, given to the Commodities Markets Council. Dr Swinburne is also a member of the ECON committee. The speech gives a view on some of the reasons why MiFID II is sought … Continue reading