Last Friday 7th October saw the one year anniversary of the first data collection under REMIT. From 7th October 2015, all data arising from activity on an Organised Market Place (OMP) had to be sent to ACER, either by signing a data reporting agreement with the OMP, or via a Registered Reporting Mechanism(RRM).
ACER issued this press release, highlighting the anniversary and launching the 2016 Annual REMIT report, which can be found here. This 94 page document, covers many aspects of REMIT monitoring. These include, the history of collection, outline surveillance methods, interactions with other bodies such as local National Regulatory Authorities (NRAs) and lists of platforms, including those that deal with inside information. The report also makes certain recommendations relating to staffing levels, financial legislation (i.e. MiFID II and MAR) as well as other concerns such as sanctions enforcement at the local level. In addition, there is a look at cases pending, cases brought and also the cause of investigations.
ACER also issued a new version of the quarterly document (covering two quarters), which can be found here. The quarterly summarises some of the the release and report’s contents, for example reminding that over 1 million records are collected per day, and also giving some summary statistics on investigations, showing a steady number in play at any one time.
The documents show that there is a great deal of activity taking place in terms of meeting the monitoring objectives of REMIT. This, alongside MAR, is driving an increased interest amongst many market participants to better monitor their own activities.