REMIT Transaction Reporting
Pursuant to Article 9 of REMIT, trading participants that conclude transactions on an Organised Market Place (OMP) such as EEX and Powernext (PEGAS) are obliged to register as market participants before they start trading.
Registration with the National Regulatory Authority (NRA)
Market participants that enter into transactions which need to be reported to the Agency for the Cooperation of Energy Regulators (ACER), are obliged to register with the National Regulatory Authority (NRA) in the Member State in which they are established or resident or, if they are not established or resident in the Union, in a Member State in which they are active.
A market participant needs to register only with one NRA. 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.
NRAs will transmit the information in their national registers to the Agency. Based on that information, the Agency establishes a European register of market participants which may be made public fully or partly. The publication of the European register of market participants improves the transparency of wholesale energy markets. It also makes it possible for market participants to access information they need in order to complete their registration, and to comply with their obligations under REMIT.
Reporting to a Registered Reporting Mechanism (RRM)
Due to operational reliability the reporting of records of transactions, including orders to trade, is performed through Registered Reporting Mechanisms (RRMs). The Agency has developed requirements to ensure the uniform reporting of both trade and fundamental data, which are to:
- ensure the security, confidentiality and completeness of information,
- enable the identification and correction of errors in data reports,
- enable the authentication of the source of information,
- ensure business continuity.
EEX is the authorised RRM for the reporting of EEX and Powernext (PEGAS) trading data. Reporting is performed using the ACER code B0000104M.DEF or detailed information see Article 11 of the REMIT Implementing Regulation.
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