Research European Commodity Market Regulations - Part 1

European Energy Market Regulations V3.1 An EMIR TR could also be an RRM, or it may not be one. An RRM that is not a TR could forward the data to the TR as well, or they may not. This is discussed in the “Data Destinations” section. What data types must be reported? REMIT requires pre trade data, i.e. order information, to be reported as well as trade data through the lifecycle. The order information includes orders for unexecuted deals. REMIT defines four “Data Views” which different data elements required within each view. These are: - Order view – Elements required to be sent when an order record is sent Execution view – Elements required to be sent when a trade is executed Confirmation/Clearing – Elements required to be sent when a trade is confirmed and/or cleared Non Standard View – Elements required for a complex “nonstandard” trade (see below) The data elements can be summarized by this table: Description Order Execution Clearing /Confirm Non Standard ID of the various parties, including broker etc. Likely to require LEIs. Includes market place ID P x x x Identification p x x Contract Info about the deal and contract, including where it was executed. UPIs preferred, Could require a complex taxonomy Order Order Type (Market, Limit etc.,) x Transaction Trade level details such as quantity, notional etc. + UTI p x x Trade type specific info Different sets of fields for IR, FX, and Commodity etc. For commodity profiles are multi record. Includes physical data x x Option Info Strike etc. x x Confirm Info When confirmed, details to be filled in Clearing Info When confirmed, details to be filled in Status New/Split/Modify/Cancel/ Terminate/Other Data Group p+ PDF x x x x x The full field list is found in the document on the ACER website at http://www.acer.europa.eu/remit/Documents/Recommendations%20on%20REMIT%20Records%20 of%20transactions.pdf © Commodity Technology Advisory LLC and ETR Advisory Ltd, 2013, All Rights Reserved. v3.1 November 13th, 2013 16

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