Accurate regulatory reporting
REMIT 2 that came into force on April 7 2016, has meant market participants in the European wholesale gas and power markets will need to report the details of all contracts and trades that are not traded on an Organised Market Place (OMP) to ACER, via a Registered Reporting Mechanism (RRM).
Non-standard trades are defined as contracts with no defined quantity and price and/or executed under non-standard contracts. They typically include structured contracts, power purchase agreements or transactions between divisions. Trayport Complete supports over 450 market participants to meet their regulatory reporting requirements.
The adjacent table highlights the comprehensive Complete service for REMIT phase 2.
7 Oct 2015
|Available via Complete||Phase 2
7 April 2016
|Available via Complete|
|Table 1||‘On venue’ orders and trades as lisited in the TRUM||✔||Standard ‘Off venue’ trades with fixed volume and price||✔|
|Table 2||N/A||Non-standard ‘off venue’ trades that cannot use table 1||✔|
|Table 3||Primary power transportation and capacity||N/A||Secondary power transportation and capacity||✔|
|Table 4||Primary transportation and capacity||N/A||Secondary gas transportation and capacity||✔|
Complete will also offer a full range of delegated services. This will ensure that those market participants who wish to report on behalf of their group or who want to provide a reporting service for their customers or suppliers can do so efficiently.
|EXTERNAL DELEGATION||INTERNAL DELEGATION|
|Enables you to provide a reporting service for your customers and suppliers
Automatically reports your customers’ side of the trade to ACER
You nominate the customers who will delegate to you, and Complete does the rest
|Enables you to provide a reporting service for group subsidiaries|