As a regulatory reporting mechanism (RRM) Abide Financial will process REMIT eligible transactions efficiently to ACER (and to other RRMs for transmission to ACER). Further, Abide Financial offers a single reporting solution for regulatory obligations under MiFID, EMIR, MAS, ASIC and Canada.
A unique REMIT reporting service
Multi-asset regulatory data validation and enrichment
User friendly interface
Proven, expert consultancy
Tailored REMIT reporting solutions for all levels of complexity
Robust international routing and transaction processing network
One solution for REMIT, EMIR, MiFID and global reporting
What is REMIT?
Energy Market Integrity and Transparency (REMIT) regulation requires market participants to report wholesale energy market contracts within the EU to a Registered Reporting Mechanism (RRM) such as Abide Financial. A new governing body has been created, the Agency for the Cooperation of Energy Regulators (ACER), to monitor the reporting regime, to ensure greater market transparency and to reduce the risk of market manipulation.
Transactions that need to be reported
Wholesale energy products (specifically electricity and natural gas) executed at OMPs and including matched and unmatched orders-to-trade for the following:
Contracts for the supply of energy
Contracts for the transportation of energy concluded on secondary markets
Derivative contracts of the above, unless already reported under EMIR, MiFID and/or MiFIR
“Abide Financial has partnered with ICAP Energy to manage its clients, and its REMIT reporting obligations.”
Abide Financial’s reporting HUB is designed to receive, process, enrich and distribute transaction data routing it to relevant regulatory bodies under multiple global regimes: MiFID, EMIR, REMIT, ASIC, MAS and others.