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MAR, Mifid

Emissions Allowance Market Participant requirements

The start of MiFID II on 3rd January 2018 also has an impact on Emissions Allowance Market Participants(EAMP) under MAR. The threshold for an EAMP is defined by MAR Article 17(2) and Delegated Regulation 2016/522,  as a group with over  6 million tonnes of carbon a year or over 2430 MW of rated thermal input (see the related documentation for detailed definitions).

From 3rd January 2018,  EAMPs are required to comply with several parts of MAR in relation to their allowances, and will in many cases be classified as “Issuers”. This includes publication requirements and others such as the maintenance of insider lists. EEX and the EQS group have collaborated to launch a platform to support compliance, and is announced here.

The recent FCA Marketwatch 55 also discusses the EAMP requirements. It can be found here.

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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