REMIT Reporting Services and Solutions - July 2015 updated March 2016
5.4.2
Upload service
A market participant may elect to upload the data from the OMP and find a way to send it himself or herself to
ACER. If such an option was chosen, either for orders, trades or both, the market participant will need to obtain the
data from the OMPs. Many OMPs intend to offer an upload service so that market participants can obtain such data.
The data is usually offered in ACER XML, although some OMPs may only offer the data in other formats. It is
generally easier to send the data on if it is available in ACER XML. However the recent ruling means that there will be
extra liability when choosing this route compared to direct reporting.
5.4.3
Sending the data to an RRM
Some OMPS offer to send data to one or more (full) RRMs on behalf of the market participant. Under this
arrangement, the OMP sends the nominated RRM the data, which forwards it to ACER on the market participant’s
behalf. The benefit of this arrangement is that all of the data, which a market participant reports, is routed via one
central point, improving reconciliation ability and control. If one adds off venue data to this equation the proposition
is very attractive, although the downside of extra liability when not using the OMP’s preferred RRM needs to be
considered. Each OMP may offer to send its data only to specific RRMs. Many OMPs are restricting this offer to RRMs
that accept data in ACER XML.
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Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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