Please insert at least 3 characters

Q&As on REMIT – Question III.2.43.

If a market participant delegates reporting of transactions executed at an organised market place to a third party RRM, is the organised market place obliged to send data to this third party RRM in the ACER xml schema as defined by the Agency?


Answer:

In case the market participant delegates reporting of transactions executed at an organised market place to a third party RRM, the Organised Market Place is not legally required to send the data to this third party RRM in the ACER xml schema as defined by the Agency.

The details of reporting between the organised market place concerned and the third party RRM reporting to the Agency on behalf of the market participant should be determined in a data reporting agreement between the relevant parties.

However, the Agency points out that the third party RRM has the obligation to report the market participant’s data executed at an organised market place in the relevant ACER xml schema as defined by the Agency.

Finally, please note that pursuant to Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014, persons required to report data shall have the responsibility for the completeness, accuracy and timely submission of data to the Agency. If the persons required to report data reports those data through a third party, the third party is responsible for the failures in the completeness, accuracy or timely submission of the data attributable to a third party.

Persons required to report data shall nevertheless take reasonable steps to verify the completeness, accuracy and timeliness of the data which they submit through the third party.

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