The EU Agency for the Cooperation of Energy Regulators (ACER) confirmed REGIS-TR’s status as Registered Reporting Mechanism (RRM) for the reporting of wholesale energy transactions. This includes orders to trade to ensure coordination and consistency in monitoring activities under the European regulation on wholesale energy market integrity and transparency (REMIT).
REGIS-TR was the first trade repository to engage in ACER’s pilot project to provide transparency and address the issue of market abuse and manipulation by facilitating the reporting of financial derivatives, spots and orders in the wholesale energy market. The trade repository already counts numerous European energy utilities amongst its participants and processes large volumes of energy commodity derivatives.
As of 7 October 2015, REGIS-TR will support market participants and third parties in reporting standardised products in phase one of the REMIT implementation. The reporting of non-standardised products will follow in phase two on 7 April 2016.
David Retana, Managing Director at REGIS-TR, commented: “We are proud to be approved as Registered Reporting Mechanism for REMIT reporting. Several leading market participants are already testing the service, and others have shown significant interest in a single consolidated view on their REMIT trading activity. REGIS-TR is now the only RRM to offer a full REMIT RRM service, encompassing interconnectivity with a number of leading OMPs and providing a full reporting service for non-standardised contracts for April 2016. Already the pre-eminent trade repository for EMIR, we are also in the process of extending our offering to include MiFID II/MiFIR, Securities Finance Reporting and FinfraG, the Swiss equivalent of EMIR. RRM approval is another important step towards becoming the one-stop shop for trade reporting.”
REGIS-TR is a central trade repository for derivatives transactions across multiple product classes. It facilitates administrative tasks and helps improve the operational management of these transactions. REGIS-TR collects and administers details of derivatives transactions reported by users, giving market participants and regulators access to an unprecedented consolidated view of these derivative positions.
REGIS-TR complies with all new regulatory proposals that have been made public to date and serves both financial and non-financial institutions. The trade repository delivers flexible participation levels that adapt to the diverse profiles and needs of all stakeholders and actors in the derivatives market.