REMIT and CME Group Products

  • 2 Apr 2018
  • By CME Group
  • Topics: Clearing

REMIT1 provides a framework for EU wholesale energy market monitoring to detect and prevent market abuse in these markets and to ensure market integrity and transparency for the benefit of European energy consumers. The REMIT regime is specific to EU wholesale energy markets including electricity or natural gas produced, traded, transported or delivered in the EU. REMIT applies to the trading of contracts and derivatives for such products even where this takes place on execution venues outside the EU and where trading is carried out by non-EU market participants.

1) EU Regulation 1227/2011 on wholesale energy market integrity and transparency

NYMEX is a US designated contract market (DCM) registered with the U.S. Commodity Futures Trading Commission. NYMEX is not required to and is not registered with ACER as an Organized Market Place OMP under REMIT. As a result, customers trading EU Energy contracts on NYMEX are solely responsible for making arrangements for the transmission of REMIT reporting information to ACER. However, to assist customers in meeting these reporting obligations, CME Group offers the following REMIT data services to firms trading EU energy contracts on NYMEX:

  • ACER XML Download service – under this service, on request we provide customers with a daily download file in ACER XML format of REMIT data relating to orders and transactions submitted by that customer in relation to EU energy contracts listed on NYMEX. The customer is able to download the relevant data from a secure FTP folder location hosted by CME and the customer is then responsible for reporting such REMIT data via their own REMIT RRM of choice to ACER in accordance with the REMIT reporting obligations. While CME produces the data file for the customer, CME is not responsible for the submission of the data to ACER and this remains the responsibility of the customer and its RRM.
  • EFETNet reporting service – under this service, on request we provide EFETnet (acting as RRM for the customer, appointed by the customer) with a daily download file in ACER XML format of REMIT data relating to orders and transactions submitted by that customer in relation to EU energy contracts listed on NYMEX. On behalf of the customer, EFETnet is able to download the relevant data from a secure FTP folder location hosted by CME. EFETnet is then responsible for reporting such REMIT data on behalf of the customer to ACER in accordance with the REMIT reporting obligations. While CME produces the data file for the customer, CME is not responsible for the submission of the data to ACER and this remains the responsibility of the customer and EFETnet, acting as its RRM.

Further details and the terms and conditions for the REMIT Data Services are available at this link. If you require further information on the REMIT Data Services or have any questions in relation to the service, REMIT reporting or CME Energy products in general, please contact Energy@cmegroup.com.

Please note that the information provided on this webpage is published for general informational purposes only and should not be considered legal or any other form of advice. CME Group assumes no responsibility for any errors or omissions. The terms and conditions for the REMIT Data Service set out the basis on which the services are provided.

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