REMIT Reporting (RRM)

The deltaconX regulatory platform is uniquely positioned to enable REMIT Reporting – Regulation on Energy Market Integrity and Transparency because we provide all 4 REMIT tables + fundamental data, which is what makes us so attractive to Energy and Commodity Traders seeking a comprehensive compliance solution.
By providing a native REMIT solution in addition to supporting the reporting for financial regulations, all within an integrated solution, we believe we provide a market leading offering for Energy and Commodity firms.

REMIT is an EU regulation that establishes a framework for identifying and preventing market manipulation and insider trading in European wholesale energy markets. This overseen by the Agency for the Cooperation of Energy Regulators (ACER).  ACER is the European agency charged with assisting national regulatory authorities in performing their regulatory and supervisory tasks and coordinating their action at the EU level as required, with the goal of promoting the single European energy market.
Founded in 2010, ACER plays a crucial role in facilitating the integration and harmonization of national energy markets within the European Union (EU). Its key objectives are to promote competition, help ensure the security of energy supply, and protect the interests of consumers.

ACER’s main responsibilities include:

  1. Monitoring and reporting on the internal electricity and natural gas markets.
  2. Providing opinions and recommendations to the EU institutions.
  3. Deciding on cross-border infrastructure projects to ensure the compatibility of national rules and their compliance with the EU regulatory framework.
  4. Ensuring a harmonized regulatory approach for the operation and use of cross-border infrastructure.
  5. Resolving potential disputes between national regulators.
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What is the reporting obligation?

The information to be reported under REMIT includes details of wholesale energy market transactions, including orders to trade, and also includes the reporting of “fundamental data”, i.e., information that gives an indication of the supply and demand of wholesale energy products.

The reportable information relates to four REMIT tables, which include:

Table 1 – Standard contracts for the supply of electricity or natural gas
Table 2 – Non-Standard contracts for the supply of electricity or natural gas
Table 3 – Non-Standard contracts for the transportation of electricity
Table 4 – Non-Standard contracts for the transportation of natural gas

Fundamental data – Information related to the capacity and use of facilities for production, storage, consumption of electricity or natural gas or related to the capacity and use of LNG facilities, including planned and unplanned unavailability of these facilities.

Who is required to report?

Market participants: An individual who enters into transactions, which includes placing of orders to trade, in one or more wholesale-energy markets. This could include entities like energy producers, consumers, and traders.

  1. Organised Market Places (OMPs): Venues or systems where buyers and sellers of commodities or financial products can interact to trade with each other. These venues include regulated markets, Multilateral Trading Facilities (MTFs), and traders.
  2. Organised Trading Facilities (OTFs), as well as brokers and other similar entities that facilitate trading. They include energy exchanges, brokerage platforms, and other venues where wholesale energy products are traded. OMPs are required to report details of transactions executed at their venues, the same applies to contracts which are concluded OTC but are then admitted to trading at their venues.
  3. Transmission System Operators (TSOs): These are entities that operate the infrastructure needed for the transmission of electricity or natural gas. They may also be required to report certain types of information under REMIT.

How to report?

In order to comply with the REMIT regulation, ACER requires that trades, orders to trade, and fundamental data has to be reported via a Registered Reporting Mechanism (RRMs), which are entities specifically registered with the ACER to report on behalf of market participants.

The main purpose of RRMs is to provide a reliable channel for the reporting of data required under REMIT. This can include data on wholesale energy market transactions, including orders to trade, as well as data on the capacity and usage of facilities for the production, storage, and transportation of electricity and natural gas.
The RRM’s role is crucial for the implementation of REMIT, as it ensures that the data sent to ACER is accurate, reliable, and timely. RRMs can be market participants reporting their own data, third parties reporting on behalf of others, or organised marketplaces, trade matching or reporting systems.

When do reports have to be made?

Table 1: T+1
Table 2: T+30
Table 3: T+1 after the allocation results
Table 4: T+1 after the allocation results.

User-friendly compliance

A platform that helps you focus on what matters.

deltaconX provides highest flexibility by supporting multiple jurisdictions within a unified platform.

Fully Integrated REMIT Reporting

The deltaconX SaaS platform offers the capability to incorporate the REMIT Reporting requirements into our unified and standardised workflow, so that you only need to focus on the necessary data for the required asset classes.

We completely remove any confusion surrounding the requirements for REMIT Reporting by ensuring that the necessary data is captured and provided to satisfy REMIT Reporting requirements for each derivative.

Because our unified deltaconX workflow is built to focus your attention only where it’s needed, meeting the REMIT Reporting has never been easier as all the requirements and safeguards are built into our platform itself.

Integrated Compliance Expertise

We help you move away from relying on external consultants or having to maintain complex internal solutions that eat up significant amounts of your precious time and resources, and actually reduce your burden of compliance in the process.

Our platform has the combined experience from across the entire data reporting chain integrated so that you can finally eliminate the need for expensive in-house know-how and switch to a simpler way of working with a proven track record of reducing manual efforts by up to 80%.

In this sense deltaconX makes it both quick and easy to make sure that everything is available to validate your REMIT Reporting while taking the pressure off your existing resources.

By building expertise from across our entire data reporting chain into the platform itself, we’re also able to proactively work on of bigger shifts, changes, or even revisions to the regulations without passing the burden on to you.

Evergreen Compliance is Futureproofed Compliance

As the regulatory reporting bodies strive to continuously ensure transparency, the compliance landscape rarely remains static for long. As the focus starts to move away from data completeness towards data quality, not only becoming – but remaining compliant will prove to become a bigger challenge over time.

Unlike other solutions deltaconX can provide you with the complete picture of the cost of REMIT Reporting compliance with an unprecedentedly clear TCO – even as reporting compliance requirements change over time.

With deltaconX you get more than just a SaaS based solution provider, you get a long-term partner that proactively helps you reduce the burden of compliance and actually frees up resources that can start focusing on your core business.