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Today, the Organised Market Places (OMPs) European Energy Exchange (EEX), EPEX SPOT, Gaspoint Nordic and Powernext have published a common FAQ document that ex-plains integral parts of the REMIT Data Service Agreement. This agreement enables members to delegate the reporting of transaction data according to Article 8 of the EU Regulation No. 1227/2011 on Wholesale Energy Market Integrity and Transparency (REMIT) to all or a selection of these OMPs.
Please find below the most important topics explained in the FAQ document. The full FAQ is attached and available under the following link: http://www.eex.com/en/trading/remit-transaction-reporting.
Back-loading
Back-loading according to Article 7 of the REMIT Implementing Regulation No. 1348/2014 is still subject to approval from ACER. EEX, Gaspoint Nordic and Powernext plan to offer back-loading according to the approach that has been presented to ACER:
Back-loading is a one-off transfer of transaction data for each member selecting the offer. In this framework, all trades that have ever been concluded by the relevant member would be re-ported. This refers to all contracts that are tradable on 7 October 2015.
EEX, Gaspoint Nordic and Powernext offer this as a complimentary service, free of charge provided that a REMIT Data Services Agreement has been signed by 10 September 2015.
Transactions concluded on EPEX SPOT are not affected by Back-loading.
Unique Transaction ID (UTI) and Unique Order ID (UOI)
For each trade, a UTI will be generated to allow for matching of the buy and sell side of the trade that have been reported separately. The UOI which will not be changed throughout the lifecycle of the order will link an order to trade to all future modifications.
UOI and UTI will be created automatically in the reporting application, according to a method-ology which follows the guidelines of REMIT. This allows using a common UOI and UTI algorithm for EEX, Gaspoint Nordic and Powernext, and avoids the implementation of multiple alternatives on the clients’ side. Therefore, UOIs and UTIs will not be available in the trading systems, but provided in the ACER xml files of the Basic Service. For the precise algorithms, please consult the FAQ document published.
Registration as Market Participants
Trading participants that conclude transactions on an OMP are obliged to register as market participants before the start of the data reporting obligation on 7 October 2015. Therefore, all trading participants at EEX, EPEX SPOT, Gaspoint Nordic and Powernext need to register.
Registration shall be made with the National Regulatory Authority (NRA) of the member state within which the market participant is established or resident. If a market participant is not based in the Europ an Union, registration shall be made with the NRA of a member state within it operates. A list of the NRAs is available on the ACER website: http://www.acer.europa.eu/The_agency/Organisation/Board_of_Regulators/Pages/BoR-Members.aspx.
ACER has specified the data to be provided for the registration as well as the format. More detailed information on the registration process has been published by the NRAs, such as the German Federal Network Agency, the French Regulatory Commission of Energy, the Danish Energy Regulatory Authority and Energie-Control Austria, following the launch of their registra-tion portals.
As of today, approximately 75% of trading participants at EEX, EPEX, Gaspoint Nordic and Powernext have registered as market participants and have been published to the European register.
Registration to the Reporting Service
The REMIT Data Services Agreement is already available directly in the EEX, EPEX SPOT, Gaspoint Nordic and Powernext websites. You can start registration by sending back the filled and signed agreement to either the EPEX SPOT Membership department or the EEX Market Information Services team by 10 September 2015.
