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Q&As on REMIT – Question II.4.8.

In the CEREMP system, the EIC code is not mandatory information. If the company has an EIC code but does not fill it in, would the registration be returned to the market participant to complete the missing information? What about the BIC, LEI and GS1 codes?


Answer:

According to Article 10(2) of Commission Implementing Regulation (EU) No 1348/2014, when reporting information referred to in Articles 6, 8 and 9 of the same Implementing Regulation, including inside information, the market participant shall identify itself, or shall be identified by the third party reporting on its behalf, using the ACER registration code which the market participant received or the unique market participant code which the market participant provided while registering in accordance with Article 9 of REMIT.

This means that any EIC, BIC, GS1 or LEI code used for reporting purposes must be provided with the registration as market participant.

According to the Agency Decision No 01/2012 on the registration format, the EIC code is mandatory only if it is available. The content of the field cannot be technically verified as there is no database of the issued EIC codes available that could be used for the validation against the data provided in CEREMP. Thus the field has to stay optional for technical reasons.

It is a market participant’s responsibility to provide the correct data and update them if necessary.

Last update: 29/05/2015   RSS_Icon Subscribe to this Page’s RSS