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FAQs on transaction reporting – Question II.2.5.3

With respect to the reporting of transactions on wholesale energy contracts that were concluded prior to the date on which the reporting obligation becomes applicable and remains outstanding on that date (back-loading), it is unclear whether this includes or excludes trades that have expired on that date, but remain unsettled.
Please confirm whether wholesale energy transactions to be back-loaded include trades that haven’t settled, although expired on or before the date on which the reporting obligation becomes applicable.

Trade expires on 07/10/2015, but settles a day or two later – In scope for back-loading?

  • Trades expires prior to 07/10/2015, but settles on 07/10/2015 – Out of scope for back-loading
  • Trade expires and settles prior to 07/10/2015 – Out of scope for back-loading
  • Anything that hasn’t settled on the date the reporting obligation becomes applicable has not “concluded” and therefore is in-scope for back-loading of data to the ACER?

Answer:

The Agency considers outstanding contracts those contracts that have an outstanding physical or financial flow as defined by the contract and not by the settlement of the invoice date. For futures the Agency would expect to see the positions that are technically still “open” and that can be still traded out (or closed) or settled. Please see also “Additional clarification on the back loading requirement” available in the TRUM.

With regard to the above question:

  • Trade expires on 07/10/2015, but settles a day or two later is in scope for back loading
  • Trade expires prior to 07/10/2015, but settles on 07/10/2015, is in scope for back loading
  • Trade expires and settles prior to 07/10/2015, is out of scope for back loading

Last update: 16/11/2015   RSS_Icon Subscribe to this Page’s RSS