eTM – electronic Trade Monitoring
The trade and monitoring regulatory compliance service, eTM, was purpose built by Equias for the European energy markets. It is configurable to each company’s trading techniques and approach to monitoring. eTM is the most popular solution in the industry for complying with MAR and mitigating risk under REMIT.
Who is it for:
- Heads of regulatory reporting
- Wholesale trading compliance officers
- Middle office managers
- Market and/or risk analysts
- eTM is ‘data ready’ – you can test trial the service and use it immediately to analyse your data.
- Top-ranked abuse patterns prioritised by and developed with the eTM community.
- Gain and share knowledge and stay up to date on industry best practice as part of the largest EU energy trade monitoring community.
- Automatically add new markets to the analysis simply by starting to trade in them.
- Task management and workflow capabilities to support ‘identification through to resolution’ and group working.
eTM is delivered ‘data ready’ as a cloud service, avoiding the need for complex product implementation and data integration. It thus allows users to focus on their business rather than on the technical complexities of implementing a solution. eTM includes a constant flow of high-quality data – orders and trades, whether traded on exchange, via a broker, or bilaterally. We have addressed the complex task of collecting data from multiple sources and integrating it into a homogenous dataset that is ready for analysis, allowing confident insights and analysis into trading activity and behavior.
Some trading behaviour can lead to prosecution and severe penalties under anti market abuse legislation, REMIT and MAR. Market Abuse Regulation (MAR) includes an explicit obligation requiring participants in traded markets – including European energy wholesale markets – to introduce appropriate systems to monitor for breaches.
REMIT empowered ACER to monitor all EU electricity and natural gas trading for abuse. They collect all trade, order and fundamental data and centrally analyse trading behaviour of all markets and participants. ACER issued stringent penalities under REMIT for organisations proved being in breach.
Product related media
Abuse Patterns flyer
Spot Market Data White Paper
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Frequently asked questions:
Spot markets have been included in eTM since 2018. The white paper Energy Spot Market Data in Trade Monitoring includes a more detailed investigation of the issues involved. If you are interested in participating in the Spot Data Special Interest Group or learning more about their work please contact firstname.lastname@example.org
eTM includes all client data that Equias has reported to regulatory authorities on behalf of the client through Equias' eRR service, including OTC brokered trades and orders, exchange executed trades and orders and bilateral trade data. Additionally, clients can augment the dataset with:
- Additional REMIT client data that has been reported through other routes and has not been reported through Equias' eRR service (e.g. exchange data that the client may have opted to report via the exchange).
- Additional non-REMIT client data for markets the client trades on ICE, including oil, emission and coal trade and order data, using eTM's direct ICE data feed.
The eTM interest group has identified the critical abuse patterns for the European energy trading market. This is the core set which includes:
Insider Trading, Wash Trades A2A and A2B, Spoofing, Market Cornering, Off Market Pricing, Layering, Marking/Slamming the Close etc.