ACER yesterday issued this press release, one month before the date on which off venue reporting under REMIT commences. The release makes some interesting specific points:
- Market participants are discouraged from pursuing the “self reporting RRM” route, that is deciding not to use a third party RRM and instead going through the application process. Such discouragement was also given at the recent public workshop (notes here).
- ACER commit to “ provide further guidance through the publication of additional REMIT Q&As and FAQs on transaction and fundamental data reporting in the course of the month and beyond, as required.” This implies that we can expect further guidance not only before April 7th, but also afterwards. It would appear that April 7th is unlikely to see the end of the reporting project.
No explicit mention is made in the press release of how to report tables 3, 4 and fundamental data. Many market participants are finding preparation to report these formats difficult, especially without any example XML.
We can therefore look forward to more updates from ACER soon. Hopefully they will not come too late to support a feasible compliant implementation.