REMIT Reporting Services and Solutions - July 2015 updated March 2016
1 Table of Contents
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What is REMIT? ......................................................................................................................................................... 5
2.1
This Report ........................................................................................................................................................ 6
2.2
Inside Information and Market Manipulation .................................................................................................. 6
2.3
Registration ....................................................................................................................................................... 6
Reporting – Why? ..................................................................................................................................................... 7
3.1
Acts and Timelines ............................................................................................................................................ 8
3.2
Data sources and types– where does it originate? ........................................................................................... 9
Reporting requirements.......................................................................................................................................... 10
4.1
How the data gets to ARIS – RRMs and OMPs ................................................................................................ 10
4.2
Which activity is included in REMIT? .............................................................................................................. 11
4.2.1
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LNG trades............................................................................................................................................... 12
4.3
WHO is covered by REMIT?............................................................................................................................. 12
4.4
To be reported on demand ............................................................................................................................. 12
4.5
Exemptions – 600, 10 and 20 .......................................................................................................................... 13
4.6
What is a “trade?”........................................................................................................................................... 13
4.7
What about EMIR? .......................................................................................................................................... 13
4.8
“What is a derivative”? - MiFID Annex I Section C .......................................................................................... 13
4.9
Who reports? .................................................................................................................................................. 14
4.9.1
RRMs ....................................................................................................................................................... 14
4.9.2
EMIR TR ................................................................................................................................................... 15
4.9.3
Organised Market Place .......................................................................................................................... 15
4.9.4
Direct reporting ....................................................................................................................................... 15
4.9.5
Fundamental data using a system operator ........................................................................................... 16
4.9.6
Electricity Transparency Regulation (ETR) – 543/2103 ....................... .................................................... 16
4.10
What needs to be reported and where is it defined?..................................................................................... 16
4.11
The UTI issue ................................................................................................................................................... 16
4.12
Schemas and Receipts..................................................................................................................................... 18
4.13
Standard vs non-standard, formats and phases ............................................................................................. 18
4.14
Report timing .................................................................................................................................................. 19
4.15
Back loading .................................................................................................................................................... 19
Reporting of orders and trades arising on Organised Market Places ..................................................................... 20
5.1
“Delegated reporting” under REMIT............................................................................................................... 20
5.2
What is an OMP under REMIT?....................................................................................................................... 20
5.3
OMP reporting – how should it work and what are the issues?..................................................................... 21
5.3.1
Unknown data ......................................................................................................................................... 22
Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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