FAQs on transaction reporting – Question II.3.2.1

Data field (4)

Reference to documents:

REMIT-EU 1227/2011, Article 9, paragraph 1
Guidance on the application of REMIT, 3rd Edition, Updated 3-June-2015, Section 3.5
FAQs on REMIT transaction reporting, item II.2.6
ARIS Data Validation v2.1 , section 6.3.2.
ARIS Data Validation Rules configuration V3.1 (Rule AT2F15R1 has been disabled on both Testing Framework and Production)

How field (4) of Table 2 “ID of the other market participant or counterparty” in a bilateral transaction should be populated when the other counterparty (non-EU member) does not have an ACER code but is a REMIT participant.

Example: In a reportable Bilateral Contract the “other Market Participant” (counterparty) is a non-EU member but refuses to register for obtaining an ACER code.

Given that according to:

1. FAQs on REMIT transaction reporting, item II.2.6, the fictitious ACER code ACERNONMP.EU is used for cases that the counterparty is a non-REMIT market participant

2. ARIS Data Validation Rules configuration V3.1, the Rule AT2F15R1 has been disabled on both Testing Framework and Production

There are 2 possible solutions:

1. To populate field 4 with any of the codes (EIC/BIC/ LEI/GLN/GS1) if available

2. To populate field 4 with a fictitious code similar to the abovementioned but to clearly indicate that is a non EU non-registered REMIT participant, e.g. ACERNONEU.MP (this approach covers the (rare) case the said participant does not have any of the EIC/BIC/ LEI/GLN/GS1 codes).

Answer:

Field (4) of Table 2 “ID of the other market participant or counterparty” in a bilateral transaction should be populated with one of the allowed codes if the other counterparty to the contract is a REMIT registered market participant otherwise ACERNONMP.EU to indicate the counterparty to the contract is not a registered market participant.

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