REGIS-TR to become a Registered Reporting Mechanism in the European energy market

4 December, 2014
  • REGIS-TR applies to the EU Agency for the Cooperation of Energy Regulators (ACER) to become a Registered Reporting Mechanism (RRM)
  • RRM status facilitates reporting of orders and trades on spot and derivatives as required under the Regulation (EU) on wholesale energy market integrity and transparency (REMIT)
  • Commodity reporting guide under EMIR under development

REGIS-TR, the European trade repository owned by Clearstream - a subsidiary of Deutsche Börse Group - and Iberclear (BME), is applying to the EU Agency for the Cooperation of Energy Regulators (ACER) to become a Registered Reporting Mechanism (RRM) to ensure the required coordination and consistency in monitoring activities under the Wholesale Energy Market Integrity and Transparency (EU) Regulation (REMIT). The key objective is to guarantee transparency and reduce market abuse and manipulation, by facilitating reporting of orders and trades on spot and derivatives in the wholesale energy markets.

Since the inception of the testing phase of ARIS (Architecture of Integrated Information Systems), ACER’s platform for reporting, REGIS-TR was the first trade repository to actively contribute to the ACER Pilot Project.

With the aim of further supporting its participants with the commodity reporting obligation under EMIR, REGIS-TR is developing a detailed commodities guide with industry experts. The first chapters to be released are on gas and power. 

Dr. Mark Earthey, CEO of Maitland Energy Consulting LTD, notes: "Energy trading is a niche market and trying to shoe-horn REMIT requirements into an existing EMIR or Dodd-Frank regulatory reporting template will not work. REGIS-TR has been actively engaged with us for some time, in order to fully understand all of the nuances involved. Their commitment to this market pre-dates EMIR and we are confident that their solution will be credible and effective."  

Irene Mermigidis, Managing Director of REGIS-TR comments: “ participants of REGIS-TR have been urging us to offer them a REMIT solution, covering not only transactions on derivative markets, which are already reported to REGIS-TR under EMIR, but the whole spectrum of data required under REMIT. REGIS-TR has fully demonstrated with the implementation of EMIR in February 2014, and the Collateral and Valuations reporting in August 2014, that it is in possession of a robust and scalable platform. It was only natural that we worked with our participants to develop a viable market solution. Using REGIS-TR as their single European reporting agency, participants will be able to take away much of the administrative burden and cost associated with a complex piece of regulation like REMIT.”

About Regis-TR

REGIS-TR is a central trade repository for derivatives transactions across multiple product classes. It facilitates administrative tasks and helps improve the operational management of these transactions. REGIS-TR collects and administers details of derivatives transactions reported by users, giving market participants and regulators access to an unprecedented consolidated global view of these derivative positions.

REGIS-TR complies with all new regulatory proposals that have been made public to date and serves both financial and non-financial institutions. The trade repository aims to deliver flexible participation levels that adapt to the diverse profiles and needs of all stakeholders and actors in the derivatives market.

With more than 40% of its total client base from the corporate sector and 10% from the energy sector, already reporting extensive numbers of financial derivatives, REGIS-TR, through its Deutsche Börse and BME parentage has by now in-house expertise with the European Energy Exchange and MEFF Power.

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