Q&As on REMIT – Question II.4.11.

Shall TSOs register as market participants, reporting parties or both?


Answer:

Any entity that identifies itself as a market participant, under Article 2(7) of REMIT, should register as such with the relevant NRA, in line with the provisions of Article 9(1) of REMIT. Article 2(7) of REMIT defines that ‘“market participant” may be any person, including transmission system operators, who enters into transactions, including the placing of orders to trade, in one or more wholesale energy markets.’

If the market participant intends to report directly its own data, in total or in part (self-reporting), it should indicate this via CEREMP (Section 5 of the registration form) and register as a registered reporting mechanisms reporting only its own data with the Agency.

If the market participant decides to use one or more RRM(s) to report the market participant’s data on its behalf, it has to indicate which RRM service(s) it intends to use (CEREMP – Section 5).

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Q&As on REMIT – Question II.4.12.

Does a market participant that only reports contracts in accordance with EMIR[1]/MIFIR[2] need to register?


Answer:

Yes, any market participant according to Article 2(7) of REMIT has an obligation to register with the relevant NRA in line with Article 9(1) of REMIT.


[1] Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR).

[2] Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (MIFIR).

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Q&As on REMIT – Question II.4.13.

In the RRM Requirements document (Chapter 6.2.1) it is stated that ‘those market participants that do not wish to become RRMs, shall indicate in Section 5 of the registration form to whom they permanently delegate the reporting of data’. Could you please clarify if the decision on which RRM to use is “permanent”?


Answer:

Market participants are not required to permanently delegate reporting of data to a particular RRM. If a market participant decides to change its RRM that market participant is required to update Section 5 of the registration form accordingly, in line with Article 9(5) of REMIT.

The term “permanently” only aims to distinguish between the delegation to third party RRMs and to the situations where one counterparty reports the details of a contract also on behalf of the other counterparty according to Article 6(7) of Commission Implementing Regulation (EU) No 1348/2014. In the latter case, the other market counterparty does not have to be identified as an RRM in Section 5 of the registration form.

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Q&As on REMIT – Question II.4.14.

Can a market participant change the RRM(s) it has selected in Section 5 of the registration form if they decide to use a different RRM to report?


Answer:

Yes, market participants are free to change the RRMs through which they report. However, if a market participant decides to change its selected RRM, Section 5 of the registration form should be updated to reflect this change.

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Q&As on REMIT – Question II.4.15.

Does a market participant have to register twice within CEREMP if it has to report both electricity and gas data?


Answer:

If it is the same market participant, then the market participant has to register within CEREMP only once as defined in Article 9(1) of REMIT.

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Q&As on REMIT – Question II.4.16.

Does a market participant with multiple sites in Europe have to register within CEREMP in every country it trades/is active?


Answer:

According to Article 9(1) of REMIT and as further explained in Chapter 4.5 of the 3rd edition of ACER Guidance on the application of REMIT, a market participant entering into transactions which are required to be reported to the Agency has the obligation to register only in one Member State.

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Q&As on REMIT – Question II.4.17.

Do different economic entities belonging to the same group/corporation (i.e. intra-group entities) have to register within CEREMP themselves? Even if they are not obliged to report?


Answer:

The obligation to register within CEREMP under Article 9(1) of REMIT applies to market participants (natural or legal persons) entering into transactions which are required to be reported. Within a group of companies, all legal entities who enter into transactions that are required to be reported must register in CEREMP.

Market participants that only enter into intragroup contracts are still required to register, although such contracts are only reportable upon reasoned request of the Agency and on an ad-hoc basis, in line with Article 4 of Commission Implementing Regulation (EU) No 1348/2014.

In addition, please note that the Agency adopted a ‘No-action letter’ to provide time-limited no-action relief from the requirement to report contracts and details of transactions in relation to those contracts listed in Article 4(1) of Commission Implementing Regulation (EU) No 1348/2014 upon reasoned request of the Agency. The No-action letter is available here: https://www.acer-remit.eu/portal/acer-staff-letters-doc.

However, this no-action relief is without prejudice to the obligation to register with the competent NRA as a market participant according to Article 9(1) of REMIT.

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Q&As on REMIT – Question II.4.18.

Does the ACER code need to be changed if a market participant decides to change its address from one Member State to another Member State (e.g. headquarter for legal entity)?


Answer:

Yes. In line with Article 9(5) of REMIT, the market participant has an obligation to communicate promptly to the NRA any changes which have taken place regarding the information provided in the registration form. In case the market participant changes its address from one Member State to another Member State (e.g. headquarter for legal entity), the ACER code changes. The old ACER code will be deleted and the market participant is required to submit a new registration with the new relevant NRA.

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Q&As on REMIT – Question II.4.19.

During the registration process within CEREMP, the market participant has to indicate a link to the website where it is publishing the inside information. Can the market participant indicate a link not belonging to its organisation (e.g. TSO website)?


Answer:

Yes, as long as the URL provided allows direct access to the inside information published by the market participant.

Provided that the place of publication of inside information is different than the home page of the market participant’s website (defined in Field 119 of the CEREMP registration form as per Agency Decision No 1/2012), the market participant is obliged to indicate an URL where it is publishing inside information (Field 120 thereof).

In general, if a market participant’s own home page is not used for publication of inside information, a market participant is obliged to indicate a:

(i) URL to a specific page on its own website, other than the homepage, where the inside information is published; or

(ii) URL to a third party website; as far as it is a link that allows direct access to the inside information published by the market participant.

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Q&As on REMIT – Question II.4.20.

[** Merged with Q III.2.24. **]

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