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REMIT

ACER’s public consultation on the CEREMP

ACER have recently closed a consultation on the Centralised European Register of Energy Market Participants (CEREMP), the register in which all market participants must lodge an entry as part of REMIT, resulting in the allocation of an ACER code. The register requires market participants to provide several pieces of data relating to their entity, the group to which they belong, and also certain technical details such as which RRM will be used for REMIT reporting. The consultation document can be found here.

The consultation suggests some new and amended fields in the CEREMP, and also contains questions about the usefulness of the formats. There are a few items that are of particular note:

  • EIC Codes – It is suggested that all EIC codes associated with the entity be registered. The requirement to register extra location information is also suggested as is information about the owner of facilities managed by someone else.
  • TraderID – There is a suggestion that the identifier of traders be registered in the CEREMP, thus binding them to the entity.
  • Inside information – a more specific link to the location of published inside information is requested. This would become more useful once the new required data formats for inside information enter into force on 1 January 2017.
  • ACER Code history – a suggestion that changes to ACER codes are logged together with a change explanation.
  • Corporate structure – a suggestion that more information on the entity’s group, including information on unregistered entities, be provided.
  • Requirement of OMPs to check registration – a suggestion that it become a legal requirement on a European OMP (Organised Market Place)  to check that market participants are registered in the CEREMP.

Europex have issued a response to the consultation which can be found here. There is push back on the registration of Trader IDs, and the OMP registration requirement.

The resulting new fields are scheduled to be published on June 30th, to go into effect on 1st January 2017.

 

 

 

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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