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REMIT

The rate of ACER Code registration

It is now nearly two weeks since the final “backloading” deadline under REMIT passed, on 6th July. By that date, any contract that was in delivery on 7th April 2016 and struck before that date needs to have been reported to ACER via a Registered Reporting Mechanism(RRM).

This post by Tilo Zimmerman of Ponton GmBH on LinkedIn analyses the rate at which new ACER Codes have been issued. These are created when a market participant registers in the CEREMP(Central European Repository of Energy Market Participants). It is mandatory to have an ACER code when reporting (and in some cases even if not reporting).

The post looks at the rate of new code issuance,  which does not seem to have flattened, and suggests that many market participants may well have treated the backloading deadline as the “real” reporting deadline. Even now, registrations appear to be increasing. This would imply that many market participants are still coming to grips with the requirements, and trying to fulfil their reporting obligations under REMIT Article 8.

 

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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