The UK’s Financial Conduct Authority has fined Merrill Lynch International for incorrectly reporting 35,034,810 transactions, and failing to report another 121,387 from November 2007 to November 2014. The US bank was required to report the trades under the Markets if Financial Instruments Directive – MiFID. The fine gives some interesting insight into the world many energy […]
ACER has released the provisional list of organised trading venues for REMIT. Any trades agreed through one of these platforms will needed to be reported from the first phase of trade reporting under REMIT. The agency is running a consultation until December, so changes to the list are possible.
ACER is looking for open market places to register for REMIT purposes. Under REMIT, open market places includes all exchanges, brokers and anyone else arranging trades in Europe’s power and gas markets. The agency is looking for each market place to list the type of they arrange too. This presumably will feed into the agency’s […]
I reported for ICIS on Wednesday that the European Commission looks set to extend the length of time energy companies will have to start reporting trades after the implementing acts for REMIT are published. It seems the commission has take on board the need for time to build the systems to report trades, and even […]
As mentioned in this blog recently and in this ICIS story today, the implementing acts for REMIT are likely to come in November. It is possible they might come sooner. In the article linked to above, some market participants complain about the six-month timeframe companies will have to digest the implementing acts before they have to […]
Consultant Avid Handler blogged about Deutsche Bank being fined £4.7m by the UK’s Financial Conduct Authority and what it might mean for the energy industry, which now reports some trades under EMIR. The bank was fined for misreporting, erroneously, equity CFD trades under MiFID for several years. So do energy companies need to worry about […]