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REMIT data reporting anniversary accompanied by a report and a “Quarterly”

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.

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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