2. Reporting Services

Modified on: Wed, 27 May, 2020 at 1:28 PM


2. Reporting Services


2.1 Reporting Entities

According to the REMIT transaction reporting regime, Implementing Act and Questions and Answers on REMIT, market participants shall report 

  • details of transportation contracts concluded on secondary markets,
  • executed at organised market places,
  • including matched and unmatched orders, 
  • visible to market participants on organised market places,
  • covering the reporting of transactions (including Orders to Trade)
  • with a preference for bundling of transactions for all units.

Reporting Obligations for OTC are specified separately. According to Questions and Answers on REMIT all contracts to OTC physical purchase orders must be reported to ACER in line with Article 3 (1) (a) of the Implementing Act.


2.2 Reporting Frequency

According to Article 7 (1) of the Implementing Act details of Standard Contracts and Orders to Trade shall be reported


  • as soon as possible but
  • no later than on the working day following the conclusion of the Standard Contract or placement of the order.

“Any modification or the termination of the concluded contract or order to trade shall be reported

  • as soon as possible but 
  • no later than the working day following the modification or termination”

2.3 Data Content

According to Implementing Act the market participants is required to report


  • details for Standard Contracts, trades, Orders to Trade and their Lifecycle Events.

The REMIT transaction reporting Lifecycle Events include:

  1. The submission of a Standard Contract or an Order to Trade (trade or order report) for the first time which will be identified as ‘new’;
  2. The modification of details of a previous trade or order report (à amendment of one or more terms of the original agreement or any other information previously reported), which will be identified as ‘modify’;
  3. The cancellation of a wrongly submitted trade or order report, which will be identified as ‘error’; and 
  4. The early termination of an existing Standard Contract or Order to Trade, which will be identified as ‘cancel’.

The lifecycle event of ‘confirmation’ is not expected to be reported under REMIT. However, since the trade report will be sent out once the legal status of the trade has been finally determined (confirmation or rejection of the trade by the respective Transmission System Operators), this event is implicitly covered.

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