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© ICIS HEREN - Interim REMIT list has 55 organised trading venues
2014-11-14

Electricity and natural gas trades transacted through one of 55 brokers, exchanges or other trading platforms included in a provisional list will likely have to be reported, from when the first phase of transaction reporting starts.
On Friday (14th November), the Agency for the Cooperation of Energy Regulators published its provisional list of organised trading venues, which includes well-known brokers and exchanges. It is possible the final list could have more trading platforms.
Any deals transacted through the organised venues will be considered a standard trade.
Energy companies will have to report standard trades nine months after the implementing acts for the regulation in wholesale energy market integrity and transparency (REMIT) come into force.
The organised venues will probably have to report bids and offers too.
Companies will have up to 15 months, or until March-April 2016, to start reporting over-the-counter deals that take place outside an organised venue.
The provisional list does not include virtual trading points unless they offer some kind of deal facilitation or platforms auctioning transport capacity. The list will need to be finalised once the implementing acts come into force. January is the likely date for that.
The trade and order data will give EU regulators improved oversight of energy markets. It is expected that energy traders will have to start reporting standard trades by September next year, after a change to the draft implementing acts lengthened the countdown to reporting (see EDEM and ESGM 5 November 2014).
(Source: © ICIS HEREN - THE ICIS HEREN REPORTS - EDEM 18222 / 14 November 2014; www.heren.com)


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