Research European Commodity Market Regulations - Part 2 | Page 9

European Energy Market Regulations – Survey Results

Mark-to-Market
The survey suggests that meeting the mark-to-market calculation requirement of EMIR for those over the
threshold is a larger issue than might be expected. Only 44% of those who answered the question said
that they were able to calculate mark-to-market, 32% said that they could not calculate it and 24% said
that they did not know the answer.

Data Reporting
In terms of knowing what data is required to be reported both under EMIR and REMIT, a cursory glance
at the data seems to imply a reasonable level of understanding as 83% of the respondents that answered
the question said yes. However, one has to ask why the question wasn’t answered by 20% of the survey’s
respondents? Is it because the answer would be “No”?

That the majority seems somewhat prepared for data reporting is also suggested by the follow up
question which asked if they had checked that the data required by each set of rules is held
somewhere within the organization. Some 65% of the respondents said that they had undertaken
this work already. Furthermore, 52% said that they had performed a data gap analysis with 13% still
planning to do so. Around a third of the respondents answering the question had not performed a
gap analysis. Similar ratios are observed in those that have investigated the Trade Data Repositories
with 65% having already investigated TRs,
Figure 6: Trade Reporting Preparedness
17% planning to do so and a quarter who
100%
had not.
90%

Around 70% of those who answered the
question had also investigated software
and service-based solutions to help with
the regulatory reporting under EMIR
and/or REMIT and 65% had already
begun to implement such a solution.
However, the majority in our survey plan
to deploy and utilize homegrown
solutions according to the survey
responses.

80%
70%
60%
50%
40%
30%
20%
10%
0%
Understand Hold Data Gap Analysis

Finally, just under half of the respondents
(48%) said that they aware of the business
processes that will need to change because
of REMIT and EMIR.

© Commodity Technology Advisory LLC and ETR Advisory Ltd, 2013, All Rights Reserved.

Yes/Plan to

TR
Investigated

No

December, 2013

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