Be REMIT2 ready.

What you need to know about the new legislation and your obligations.

We’re here to help.

REMIT2 puts more responsibility than ever on you to monitor every transaction you make – both trades and orders – for potentially abusive patterns of behaviour. Here’s a brief overview of what is changing; the actions you need to take; and how you can achieve them – using the upgraded eTM2 service from Equias.

REMIT2: what is changing and what actions do you need to take?

REMIT2 contains some sweeping changes to the way that many of us work within the European energy community, with a far greater emphasis on detecting market abuse.

Legal obligations have now changed for Organised Market Participants (OMPs); Market Participants (MPs); and the Regulatory Reporting Mechanisms (RRMs) that you use to monitor your transactions.

To make life easy, here’s a brief summary of the seven key takeaways that you need to know.

Seven must do’s for REMIT2

  1. The responsibility for the delivery of market data now sits with the Organised Market Participant (broker or exchange) not the Market Participant. If you’re an OMP you need to act now.
  2. If you’re active in European markets as a broker (PPEAT: Professional Person Arranging or Executing Transactions) or a buyer/seller (PPET: Professional Person Executing Transactions) you now have an obligation to perform market surveillance under article 15 of REMIT2.
  3. The RRM that you use to monitor and report trades will now very likely need to meet stricter criteria on data quality and transparency, to be determined by ACER.
  4. If your organisation trades in the European energy market but does not have a physical European presence, then you now need to appoint a representative – known as REMITREP.
  5. If you use – or plan to use – algorithmic trading, then you need to aware of stricter new rules governing these practices.
  6. All Urgent Market Messages (UMMs) now need to be published via ACER on approved Inside Information Platforms (IIPs).
  7. REMIT fee reimbursement: as decreed by ACER, all transaction fees are currently the responsibility of the RRM vendor (eg, Equias) – which then seeks reimbursement from the OMP or MP. This is now under consultation as part of REMIT2. Watch this space.

Want to learn more about these changes and
others covered by REMIT2?

When do you need to act?

There is one critical date that you need to know for REMIT2.

Deadline is the 8 May 2025

 By 1 January 2025

Articles 7a to 7e referring to the LNG price assessment and benchmark comes into force.

 By 8 May 2025

The Commission adopts the related implementing and delegated acts.

 In similar timescales

Publication of revised TRUM “edition 7.0”
(n.b. v6.0 goes live in Q3/24).

 After May 2025

Staged compliance dates for the related implementing measures.

How can you meet your new obligations?

eTM2 for REMIT2: trade monitoring made easier

Our electronic Trade Monitoring (eTM) transaction surveillance software is optimised for regulatory compliance.

So, in anticipation of the more stringent REMIT2 requirements, we’ve improved our service to create eTM2.

It gives you market-ready data and transaction monitoring from day one

It’s fully audited, with no archiving or manual input of information needed.

Ultimately, you can’t put a price on peace of mind. However, eTM2 from Equias offers incredibly good value.

Still have questions? Check our our full REMIT2 FAQ page here