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MAR, REMIT

MAR – Where will the data come from?

The Market Abuse Regulation(MAR)  will be implemented on 3rd July 2016. From that date, the scope of the original MAD will be widened to include most asset classes traded on venues such as exchanges and MTFs (Multilateral Trading Facilities). Off venue trades and spot commodities that could impact their prices are also included.

MAR includes a provision that PPAETS,  (Professional Persons Arranging or Executing Transactions) must have effective monitoring arrangements in place. The PPAET is widely defined and so many market participants will need to consider improving their surveillance processes and technology.

This post by Gordon Allot of Broadpeak Partners considers the issue of data acquisition for surveillance. While REMIT makes it easier to access orders placed on an Organised Market Place, it is still difficult to pull in all of the data required to run a basic surveillance technology.

Most energy and commodities market participants are likely to take an incremental approach to surveillance, rather than investing large sums in large and expensive projects. Even so, data sourcing, and the general ability for a market participants to have all of the data generated by their traders’ activity, is likely to be important.

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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