REMIT Reporting Services and Solutions - July 2015 updated March 2016
This service particularly suits those who are already using it for confirmations. For others, it may involve more
upfront work than other options, and this may also apply to those who need to “widen” the message. A “lite”
version is also available for those with smaller volumes.
6.3.2
Combining with a trading portal
A trading portal provides a market participant access to many OMPs via one point. The portal is in a position to be
able to report much of the data that arises out of interactions with OMPs via its facilities since it already has access
to some of the data. The primary such portal in use in energy trading provides a facility to report this data, and has
combined it with the ability to upload and therefore report off venue data.
For EMIR, the service permits reporting to one of several EMIR TRs. If the portal had the data it could be enriched
and forwarded. If not, facilities were provided to upload the data and it could then be reported.
For REMIT, a similar facility is provided, and the portal will also act as RRM. In addition to reporting, a service is
offered to store reconciled and enriched data that has been sent, solving the reconciliation issue outlined earlier.
The service in fact is offered in three parts:
Firstly, access is provided to all OMP data that the service can obtain. It can be used with the resident RRM,
uploaded by the user or sent to another RRM. Secondly the service allows the uploading of additional data so that it
can be reported under EMIR or REMIT, and thirdly it can act as RRM itself.
It is possible to take any combination of these services.
This type of service particular suits those who already make extensive use of it, trade on many OMPs and do not
wish
to
store
the
data
themselves.
Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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