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REMIT

ACER issues two new “quarterly” documents

ACER  issued two new “quarterly” 2 page newsletters yesterday: One for Q4 2016 and one for Q1 2017. The approach differs from the previous “quarterly”, which covered Q2 and Q3 2016 in one document and covered 4 pages.

The Q4 2016 quarterly, which can be found here, discusses the results of the consultation on the usefulness of data in the “CEREMP”, the central repository of counterparties. It alludes to a commentary document on the results (see here). Changes are unlikely to go into effect before 2018 (according to the document).

The document also provides statistics for open REMIT cases, which has increased to 77 and queries submitted, which has reduced.

The Q1 quarterly, which can be found here, highlights the “data quality” exercise that ACRE are undertaking in order to make their surveillance more effective. This was announced in an open letter in February (see here).  ACER is currently working with RRMs on specific issues and will likely contact market participants should the need arise.

The document also makes reference to the new inside information formats, and informs the market that data will be collected from all inside information platforms by 30 June 2017. There is no mention of data collection from web sites in the new format (see here).

The document then updates the statistics found in the previous document, showing 87 open cases and even less new queries.

All of the previous quarterlies can be found here in the REMIT portal, although it is worth being aware that they are not listed in order.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy 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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