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FAQs on transaction reporting – Question II.1.1.13

Our company is an electricity and natural gas market participant and has to fulfil the requirements of REMIT. In this context, we would be grateful if you could clarify provisions of TRUM concerning the definition of standard and non-standard contracts, especially of standard contracts concluded OTC. Also, relating to the standard and non-standard contracts a few questions are unsolved how to interpret particular data fields, please see below:

Non-standard contracts
Data field Question
7 Beneficiary ID Same as data field 8 standard contracts:

“For example, if party B is trading on behalf of party C, then party C is the beneficiary and party B is acting on behalf of C. However, by entering into a transaction on wholesale energy products, party B is a market participant unless it is only an agent in which case it would not appear in the report. In this case, the ID of C should be reported in field 1 and this field shall be left blank.”

This example is not clear. Does this case refer to a Broker trading activity? (TRUM, page 37)

9 Trading capacity of the market participant or counterparty in field 1 Same as data field 10 standard contracts:

In case we are acting on our own account and on behalf of a client does the term principal apply? (TRUM, page 39)

44 Load type Same as data field 52 standard contracts:

What would be the right term for Intraday trades, OT=Other and for day ahead power, BH=Hour/Block Hours? (TRUM, page 69)


Answer:

The Agency believes that the definition of standard and non-standard contracts provided in the TRUM is sufficiently clear. Please refer to point 3.2.5 and other areas of the TRUM as well as ANNEX II to the TRUM.  A standard contract concluded over the counter (OTC) in the REMIT context means any transaction completed outside of an Organised Market Place (OMP).

The description of data fields such as Beneficiary ID (8) and Trading capacity (9) are documented in the TRUM.

With regard to intraday trades, most likely they have a defined price and quantity and they should be reported with Table 1 and examples in Section 1 of Annex II to the TRUM should be used as a reference.  At the present, we are not aware of intraday trades to be reported with Table 2.

Depending on the characteristics of the delivery load, BH=Hour/Block Hours or SH=Shaped should be used.

Last update: 16/02/2016   RSS_Icon Subscribe to this Page’s RSS