Frequently Asked Questions (FAQs) on REMIT transaction reporting

ACER’s Frequently Asked Questions (FAQs)

on REMIT transaction reporting

Minutes of 16 November 2021 from 2021 Joint roundtable meeting od ACER with AEMPs, OMPs and RRMs (Reference: RT-AEMP-OMP-RRM-2021)

ACER explained the content of the draft version of the updated Frequently Asked Questions (FAQs) on REMIT Transaction Reporting document. ACER presented the new questions on standard contracts and gas transportation contracts (Q 2.1.53, Q 2.1.54, Q 2.2.13, Q 2.4.12, Q 4.2.24) and the updated (Q 2.3.9, Q 2.4.9, Q 4.2.1), and also explained the reason for specific new insertions and changes. ACER invited the meeting participants to provide their feedback on the drafts via the dedicated online form, especially on the questions related to the flagging of cleared OTC trades on exchanges and also trades resulting from SIDC mini- auctions. The timeline of the consultation process and the publication of the new version of the FAQ document were also presented and shown to be consistent with the one already presented for TRUM.
A meeting participant proposed to link FAQ 2.1.53 to Example 4.04 "Cleared gas monthly forward" provided in the Annex II to the TRUM, which could also be connected with Example 2.16.
Regarding the new FAQ on cleared OTC trades on exchange (FAQ 2.1.53), meeting participants asked about how to populate the Extra field available in the electronic format and what the expectations were on order reporting. ACER indicated that there were other FAQs available in the document where the process had been explained. ACER might consider amending FAQ 2.1.53 in order to provide more instructions on how to populate the Extra field. Regarding the second request, ACER explained that orders were expected to be reported even if they were reportable under EMIR; this can be clarified in the FAQs.