Data reporting under REMIT

  • Data Reporting under REMIT

    Regulatory framework – REMIT

    BETP ensures strict compliance with Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency (REMIT). REMIT prohibits insider trading and market manipulation and covers all wholesale energy products – natural gas, electricity, LNG and transmission/storage capacity. As an organised market place, BETP applies the corresponding monitoring and reporting measures.

    REMIT II update – Regulation (EU) 2024/1106

    On 7 May 2024 Regulation (EU) 2024/1106 (“REMIT II”) entered into force, materially amending REMIT and introducing:

    • a broader scope and new definitions, including algorithmic trading, direct electronic access and LNG products;
    • an obligation on persons professionally arranging or executing transactions (PPAETs) – such as BETP – to monitor for and report to ACER suspicious orders and transactions;
    • an obligation to register algorithmic trading with the national regulatory authority and ACER;
    • strengthened ACER investigative powers and harmonised administrative penalties across Member States.

    BETP members that rely on algorithmic strategies or direct electronic access to the platform should assess whether they fall within the new notification requirements.

    2026 implementing acts – Regulation (EU) 2026/256 and Delegated Regulation (EU) 2026/255

    On 9 April 2026 two further acts implementing REMIT II were published in the Official Journal of the European Union and entered into force:

    Key changes under the Recast REMIT IR:

    • new definitions, including standard contract, non-standard contract, transaction and lifecycle event;
    • reporting categories restructured by frequency: ad-hoc, upon request, periodic and continuous;
    • extended reporting scope, including exposures; gas and electricity storage contracts; derivatives related to gas storage (options, futures, forwards, swaps, etc.); hydrogen supply, storage and transportation contracts; capacity-mechanism transactions; and electricity balancing services;
    • updated reporting timeframes: D+2 for standard contracts and D+10 for non-standard contracts, with the same deadlines applying to lifecycle events. ACER's current interpretation is that if a lifecycle event is linked to a transaction executed on an OMP, the D+2 deadline applies regardless of where the event occurs;
    • new obligations on Organised Market Places (OMPs) to report transactions carried out or registered on their platforms, and on Market Participants to provide information not otherwise available to the OMP;
    • quarterly reporting of exposures by Market Participants via an RRM;
    • a 5-year data-retention requirement for Market Participants, RRMs, IIPs and OMPs;
    • enhanced ACER powers to request additional information from Market Participants, RRMs, IIPs and OMPs;
    • a phased transition to the new ACER reporting schemas and technical standards between 2026 and 2028.

    Key elements of the Delegated Regulation on RRMs and IIPs:

    • a new authorisation regime for RRMs and IIPs with operational, technical, governance, security and data-quality requirements;
    • supervisory mechanisms and a process for withdrawal and orderly substitution of reporting parties;
    • indirect impact on Market Participants through stricter data validation, changes in client–reporting-entity communications and an extended scope of inside-information disclosure messages.

    ACER has published two Open Letters providing guidance on transitional arrangements, reporting timelines and the practical implementation of the revised obligations:

    BETP members should assess the impact of the new framework on their internal reporting systems, operational processes and REMIT compliance arrangements. As an OMP, BETP has initiated the necessary measures to ensure timely compliance with the new requirements.

    Reporting obligation under Article 8 REMIT

    Transactions concluded and orders submitted on the BETP market are subject to reporting to the European Union Agency for the Cooperation of Energy Regulators (ACER). The obligation flows from Article 8(1) of REMIT and is implemented by Commission Implementing Regulation (EU) 2026/256 (the Recast REMIT IR), which entered into force on 9 April 2026 and repealed the previous Commission Implementing Regulation (EU) No 1348/2014. The exact formats, fields and deadlines are described in the current version of the ACER Transaction Reporting User Manual (TRUM) and accompanying Q&A documents, which ACER maintains and updates periodically.

    BETP’s reporting service for members

    BETP offers its members the possibility for BETP to report on their behalf the transactions concluded and orders submitted on the BETP electronic platform. For that purpose, the member and BETP enter into a REMIT Data Reporting Agreement (see the document at the bottom of this page). The service is invoiced in accordance with the BETP Tariff of Fees.

    CEREMP registration

    In accordance with Article 9(4) of REMIT, every market participant must be registered with the national regulatory authority (EWRC/DKER) and, through it, in the Centralised European Register of Market Participants (ACER CEREMP) before commencing trading in products falling within the scope of REMIT.

    Further resources

    • REMIT Data Reporting Agreement
      PDF

Services