RRM TGE - Trade Data Reporting in accordance with REMIT requirements
Obligation to report trade data
Under Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency (REMIT) and related Implementing Acts, market participants are required to report information concerning orders and transactions concluded on wholesale markets for electricity and gas to the Agency for the Cooperation of Energy Regulators (ACER).
According to the provisions of the REMIT Implementing Acts, the obligation to report contracts concluded through organised market places takes effect as of 7 October 2015. From then on all participants of TGE electricity and gas markets are required to report their orders and transactions. Whereas, the obligation to report OTC contracts takes effect as of 7 April 2016.
According to the REMIT guidelines and the implementing acts, the reporting may only be carried out by entities with a Registered Reporting Mechanism (RRM) status recognised by ACER.
Trade data reporting service based on RRM TGE
The reporting service based on the RRM TGE enables the following:
- reporting of transactions, including orders to trade, concluded through an organised market place (as of 07.10.2015);
- reporting of OTC transactions (as of 07.04.2016);
- backloading of the existing contracts (07.10.2015 - 07.07.2016);
and, consequently, fulfilment of the obligations under Article 8 of REMIT.
The reporting service is carried out through the RRM to the extent required in the Implementing Acts and according to the format consistent with ARIS (ACER REMIT Information System) which is ACER's central IT system that processes REMIT-related data.