This tag is associated with 304 posts

ACER Guidance Note on Capacity Hoarding

ACER has today issued a guidance note on Capacity Hoarding, which can be found here. This follows the publication of a paper last year on wash trades (see here). Summary commentary will be published here over the coming days. ETR Advisory Regulatory Support clients will receive a detailed paper.  

Streamlining regulatory reporting – document from Europex

This blog has covered the many streams of regulatory reporting to which market participants have become subject to over the past years. The burden is also high for trading venues, who must meet a thicket of requirements. This response by Europex, to the European Commission as part of the Commissions, “fitness check on supervisory reporting” … Continue reading

Algorithmic trading, anti abuse measures and an interesting view on insider trading

The focus on algorithmic trading with regards to anti abuse measures continues. Last week, Nasdaq published this article entitled “Best Practices in Algorithmic Trading Compliance”. It summarises the measures outlined in the FCA’s recent paper on the topic (see here). It includes surveillance, testing and training issues, which in many cases are advised regardless of … Continue reading

New REMIT documents made available

ACER has recently updated the REMIT portal with new versions of several documents, including: ACER REMIT Information System Data Validation Document – Describes in detail the validation rules that apply to different fields in the TRUM. ARIS Data Validation Rules Configuration Document – Specifies which of the rules are active. EIC validation rules and list … Continue reading

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