Research European Commodity Market Regulations - Part 2

European Energy Market Regulations – Survey Results Yes No – manual Don’t know Are you carrying out a capital simulation exercise to see the potential effects of clearing if you go over the threshold? Yes No Don’t Know Are you already in compliance with the trade confirmations requirement T+7/5? Yes No Don’t Know Are you in compliance with the stricter requirements coming in? Yes No Don’t Know Will you perform portfolio reconciliation using a system or manually? System Manually Combination Don’t Know Please indicate which systems you plan to use? Will you be performing the reconciliation by? Exchanging files with each relevant counterparty on an agreed date and using your system to perform reconciliation? Using an outsourced service that takes your trades and works out dates for you, as well as performing the reconciliation? If manually, how many man-days per quarter do you think will be added by the new reconciliation rules? Do you perform portfolio compression? Yes – bilaterally Yes – multilaterally No No but we intend to Don’t Know Are you aware of available services for multilateral compression? Yes No Are you able to calculate daily mark to market/model if required? Yes No Don’t Know Are you aware of the data that must be reported under both EMIR and REMIT? Yes © Commodity Technology Advisory LLC and ETR Advisory Ltd, 2013, All Rights Reserved. December, 2013 15

Research European Commodity Market Regulations - Part 2 | Page 15