REMIT Reporting Services and Solutions - July 2015 updated March 2016
4 Reporting requirements
In basic terms, every covered market participant is responsible for making sure that each piece of required data is
reported to ACER. As under EMIR, BOTH sides of a trade (and order in some cases) must report the data, using the
same identifier. The data must be sent to ARIS, ACER’s central database, using a variety of mechanisms. In many
cases, responsibility for reporting may be delegated.
We will now drill down into the details of the reporting.
4.1 How the data gets to ARIS – RRMs and OMPs
Data is to reach ACER via a variety of routes, which partly depends on its source and type, and partly in within the
choice of the Market Participant. The possible routes can be summarised by the following diagram:
In general, market participants may not send data directly to ARIS. Rather they must send data using an intermediary
called an “RRM”, a Registered Reporting Mechanism. An RRM is an entity specifically set up for forwarding data from
market participants to ARIS.
OMPs are obligated by the REMIT Implementing Act to “offer a data reporting agreement” (Article 6(1)) for all data
that originates on their platform. They are therefore obliged to send data whose source is the platform, should the
market participant wish to use it. Since such a service can be charged for, and also because there are sometimes
issues with using such a service, the market participants may choose not to use it, although an answer given by ACER
in a questions and answers document issued on the 16th February 2016 increases the incentive to use such as
agreement.
A market participant may choose to become an RRM themselves for the sending of off venue data. Registering as
one will introduce several new requirements, which will often not be desirable (see section 5.4.1).
Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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