Today is April 7th, the day on which REMIT phase 2 reporting starts. Most off venue trades under REMIT (with some exceptions) executed from today onwards must be reported by market participants to ACER using a Registered Reporting Mechanism (RRM). The list of approved RRMs by data type can be found here and includes third party RRMs and also those market participants who have been approved to become “self reporting” RRMs.
As reported earlier this week, the “go live” is phased, and has several milestones:
- “Standard contracts” which are OTC versions of on venue transactions must be reported within a day of execution – i.e. from April 8th.
- “Non Standard contracts” need to be reported within one month of execution – so the first possible deadline is in May.
- “Back-loaded” contracts, i.e. those already open on April 7th, only need to be reported within 90 days of April 7th.
Any new information published over the course of the day will be reported on this blog as soon as possible.