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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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Q&As on REMIT – Question II.4.21.

Section 2 of CEREMP requires the identification of related persons responsible for trading decisions. If a market participant has several employees working at the trading division, shall it include all traders in Section 2 of CEREMP?


Answer:

No. Only the person responsible for trading decisions of the particular division for trading should be mentioned in Section 2 of CEREMP.

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Q&As on REMIT – Question II.4.22.

Can a market participant have more than one ultimate controller?


Answer:

Yes. In line with Section 3 of the Agency Decision No 01/2012, market participants can have one or more ultimate controllers.

The Agency regards a legal or natural person as an ultimate controller of a market participant if:

– it holds 10 % or more of the shares in the market participant or its parent OR
– it is able to exercise significant influence over the management of the market participant through a controlling interest in the market participant or its parent OR
– it is entitled to control or exercise control of 10 % or more of the voting power in the market participant or its parent OR
– it is able to exercise significant influence over the management of the market participant through their voting power in the market participant or its parent.

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Q&As on REMIT – Question II.4.23.

Why do we need to register a contact person in CEREMP instead of solely the company? What are responsibilities of such contact person? Is this contact person potentially subject to questioning/interrogation? What should we do if the contact person decides to leave the company?


Answer:

Under Article 9(2) of REMIT and Section 2 of the Agency Decision No 1/2012, the market participant has an obligation to indicate data related to natural persons linked to the market participant (Fields No 202 to 214).

The potential responsibility of the natural person related to a market participant has to be considered in line with the applicable national law.

It is the market participant’s obligation to update this information in the national register of market participants (please see Article 9(5) of REMIT).

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