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Two weeks until REMIT phase 2 reporting starts

There are now two weeks to go until “phase 2” of REMIT reporting starts, on 7th April. From that date all off venue trades, contracts and executions, as well as many types of fundamental data, will need to be reported to ACER.

Yesterday ACER issued the latest version of the list of approved RRMs by data type, which can be found here. There are many new approvals, including for tables 3, 4 and “market participant fundamental data” (gas balances in store, LNG unloads and reloads and planned LNG unloads and reloads). Several more RRMs have also been approved including some that are “self reporting” market participants.

On 16th February ACER issued several new documents and held a public workshop outlining a great deal of new information. A new version of the questions and answers document was also published. However there are still many unknowns, including examples of trades in tables 3 and 4. At the time of posting these were still not available and there have been no updates to the major documents since the 16th February.

As a result, the run up to go live is likely to be filled with questions and uncertainty, which will likely continue after 7th April.



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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