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REMIT

This category contains 326 posts

FCA sees deficiencies in MAR implementation and a fine

Earlier this week, Julia Hoggett, Director of Market Oversight at the FCA, made a speech at the AFME Implementation of the Market Abuse Regulation in the UK event. It can be found here. The speech makes several points around the implementation of MAR and anti abuse policies in general, including combating conduct risk. Some of the … Continue reading

New REMIT Quarterly reveals reporting issues, algorithmic trading development and inside information direction

ACER issued the latest version of the “REMIT Quarterly” newsletter on Friday, which can be found here. It contains a wide range of content spanning multiple REMIT related topics. In addition to the regular statistics found in previous newsletters(see here), there are several points of interest relating to: Reporting Algorithmic trading Inside Information disclosure Reporting … Continue reading

Second fine in Denmark for capacity hoarding

Yesterday the Danish Utility Regulator announced that Neas Energy A/S has accepted a fine of 150,000 DKK (approximately 20,000 euros) and 3,000 DKK (approximately 400 euros) disgorgement for capacity hoarding on 4 occasions in 2015. The press release from the DUR can be found here. This follows a fine for similar reasons levied in December (see … Continue reading

Brexit update: ACER REMIT letter and more

After a seasonal break, the politics around Brexit have come back to full speed (for example see here on the BBC web site).  In the meantime, more developments are becoming apparent in terms of the rules covered on this blog: Yesterday, ACER issued this open letter, which highlights some of the issues that may occur … Continue reading

New REMIT documents – Reporting format change evaluation and target date, Fundamental data and inside information and UTI generation

ACER yesterday published several new and updated documents related to REMIT: ACER has published an evaluation of responses to the consultation run on the revision of electronic formats for transaction data, fundamental data and inside information reporting. It can be found here. The document announces that changes to the REMIT reporting formats can be expected … Continue reading

GB Capacity Market developments

Last November, the GB Capacity Market was suspended, following a ruling by the European Court of Justice (ECJ) that the design broke the state aid rules of the European Union (see here). Since the suspension, the UK’s department for Business, Energy and Industry Strategy (BEIS) has announced that  existing payments will be honoured for now, … Continue reading

Anti abuse cases in the US and open anti abuse forum

The end of 2018 and first few days of 2019 have seen some anti abuse developments in the US, following the failed case highlighted in this post. The case of Australian trader Jiongsheng “Jim” Zhao saw further developments this week. In January 2018, Zhao was arrested in Australia following charges of spoofing on the CME … Continue reading

What could 2019 have in store for us?

As the working year of 2019 opens, it is worth taking a few moments to consider what will keep us busy in the regulatory world of energy and commodity trading over the coming months. As usual on this blog, we will focus on Europe, with an eye on the rest of the world. The era … Continue reading

2018 draws to a close

As 2018 draws to a close, it is worth briefly reflecting where we stand in the world of regulation, as applied to energy and commodity trading: We opened the year with this post, very shortly before MiFID II came into application, on 3rd January. The start of MiFID II was a busy time for many … Continue reading

Open Anti Market Abuse Forum to be run in London

ETR Advisory and the Market Abuse Centre will jointly organise an open “anti abuse” forum for the energy and commodities industries, to run in London on Monday 11th March 2019. This discussion forum is open to all professionals in the European energy and commodities markets to provide a public mechanism to discuss issues arising out of the implementation of … Continue reading