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REMIT

This category contains 284 posts

New REMIT Quarterly – more cases opened

ACER has issued the latest “REMIT Quarterly”, covering Q4 2017, which can be found here. It covers a few interesting recent aspects of REMIT:  21 new cases were opened in Q4 2017. The number of open cases is now 137. The newsletter highlights the resource shortages being experienced by ACER. It also advises that there … Continue reading

Algorithmic trading – FCA report and more

The UK’s Financial Conduct Authority (FCA) yesterday issued this report on “Algorithmic Trading Compliance in Wholesale markets. It reviews the requirements of MiFID II, MAR and local legislation for those companies engaging in algorithmic trading in covered instruments. The document reminds the market that any company which engages in “algorithmic trading” in financial instruments is … Continue reading

Ofgem REMIT powers, fines set and more anti abuse developments

There has been more activity this week on the anti abuse side of things, following Monday’s post here on recent fines. Ofgem, the National Regulatory  Authority for the GB energy market, is to be given more powers by the UK government to enforce REMIT in terms of access to documents and the power to take … Continue reading

Anti-abuse fines on both sides of the Atlantic and more

There has been an increased focus on anti abuse activity in the energy and commodities markets over the past year, due to a combination of the start of MAR in July 2016, the start of REMIT data collection and also increased investigations by both financial and energy regulators. This year has already seen a fine … Continue reading

2018 begins – what does it have in store?

The 2018 working year starts today for most, which provides a good opportunity to consider the months ahead. Start of year The end of 2017 has unsurprisingly busy, with several pieces of news posted since our “end of year” entry.  In addition to today being the first day on which Swiss “FC-” and “NFC+” entities … Continue reading

The year winds down, sort of

For many this will be the last working day of the year. However, the wind down is not quite as widespread as usual, given the proximity to the MiFID II deadline, less than two weeks away. With several new pieces of information coming out in the last days, both generally (see here) and related to … Continue reading

REMIT updates – extended no action relief and updated notification platform

ACER has made two REMIT related announcements over the past few days, following the release of an updated Frequently Asked Questions document on transaction reporting (see here). No action relief for contracts to be “reported on demand” ACER has issued this letter extending the period of “no action relief” on their asking for contracts which … Continue reading

Updated REMIT transaction reporting FAQ published

ACER has published an updated version of the REMIT Transaction reporting Frequently Asked Questions document, which can be found here. New and updated answers have been published on a variety of topics, including how to handle company de-mergers, LNG and field specific answers. The new answers are as follows: Questions 1.1.29 to 1.1.32 on page … Continue reading

Regulation summaries – REMIT Quarterly and FCA Regulation Roundup

Both ACER and the UK’s FCA have recently issued newsletters: ACER has issued the latest  REMIT “quarterly” document, which can be found here. It summarises the various announcements relating to REMIT over the past few months, as well as the contents of the recent public forum held in Ljubljana. It also shows the rate of … Continue reading

Manipulation cases

The global financial, commodity and energy markets have seen increased scrutiny from regulators over the last few months, particularly in terms of anti manipulation activity.  In Europe, rule sets such as MAR and REMIT are starting to bite, which is causing market participants to increase anti abuse measures. This rise in diligence is also being … Continue reading