REMIT Reporting – Are you ready for April 7?

REMIT reporting of trades executed on Organised Market Places (OMP) started on October 7, 2015. All other trades, i.e. bilateral trades, need to be reported from April 7, 2016. While the October deadline was largely covered by the OMPs or other services to carry out the reporting on behalf of the market participant, the April deadline is more complex and requires implementation of the right system solution to meet this challenge best. Pioneer Solutions’ REMIT module is ready to support your Standard- and Non-Standard Contract reporting as well as Electricity and Gas Transportation Contracts. Are you ready for April 7? REMIT is the Regulation of the wholesale Energy Market Integrity and Transparency. The main objective of REMIT is to outlaw market abuse in the wholesale gas and power market in Europe. Anyone who executes a trade for delivery inside the EU is subject to the rules, no matter where in the world they are based. In order to detect and deter market manipulation, energy trading is screened by the Agency for the Cooperation of Energy Regulators (ACER), and includes mandatory reporting of all physical and financial trades. Market participants can self-report trades to ACER via a RRM (Registered Reporting Mechanism),

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Source: CTRM Center

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