REGIS-TR approved for energy regulations reporting
27 August 2015 Frankfurt
Image: Shutterstock
The trade repository REGIS-TR has been approved as a registered reporting mechanism (RRM) for the European regulation on wholesale energy market integrity and transparency (REMIT).
The EU Agency for Cooperation of Energy Regulators (ACER) confirmed its status as an RRM for the reporting of wholesale energy transactions.
As of 7 October, REGIS-TR will begin phase one of the REMIT implementation, supporting market participants and third parties in reporting standardised products. Non-standardised product reporting will follow on 7 April 2016.
The approval includes orders for trading and ensuring coordination and consistency in monitoring activities under REMIT.
REGIS-TR’s participants already include various European energy utilities, and it processes large amounts of energy commodity derivatives.
It was the first trade repository to get involved in ACER’s initiative for providing transparency and addressing market abuse and manipulation. The project was designed to facilitate the reporting of financial derivatives, spots and orders in the wholesale energy market.
David Retana, managing director at REGIS-TR, said: "We are proud to be approved as a registered reporting mechanism for REMIT reporting. Several leading market participants are already testing the service, and others have shown significant interest in a single consolidated view on their REMIT trading activity.”
“REGIS-TR is now the only RRM to offer a full REMIT RRM service, encompassing interconnectivity with a number of leading organised market places and providing a full reporting service for non-standardised contracts for April 2016.”
He added: “RRM approval is another important step towards becoming the one-stop shop for trade reporting."
The EU Agency for Cooperation of Energy Regulators (ACER) confirmed its status as an RRM for the reporting of wholesale energy transactions.
As of 7 October, REGIS-TR will begin phase one of the REMIT implementation, supporting market participants and third parties in reporting standardised products. Non-standardised product reporting will follow on 7 April 2016.
The approval includes orders for trading and ensuring coordination and consistency in monitoring activities under REMIT.
REGIS-TR’s participants already include various European energy utilities, and it processes large amounts of energy commodity derivatives.
It was the first trade repository to get involved in ACER’s initiative for providing transparency and addressing market abuse and manipulation. The project was designed to facilitate the reporting of financial derivatives, spots and orders in the wholesale energy market.
David Retana, managing director at REGIS-TR, said: "We are proud to be approved as a registered reporting mechanism for REMIT reporting. Several leading market participants are already testing the service, and others have shown significant interest in a single consolidated view on their REMIT trading activity.”
“REGIS-TR is now the only RRM to offer a full REMIT RRM service, encompassing interconnectivity with a number of leading organised market places and providing a full reporting service for non-standardised contracts for April 2016.”
He added: “RRM approval is another important step towards becoming the one-stop shop for trade reporting."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
