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Work Group Transparency & Integrity
Daniel Wragge
Chair of the Working Group
The Working Group on Transparency & Integrity of Spot and Derivatives Markets (WGTI) has been created by a decision of the EUROPEX Steering Committee of 3 March 2010 to carry out the technical work indicated hereby, according to the Working Group program and the Steering Committee decision.
Against the backdrop of the planned transparency & integrity regime of wholesale markets by the Commission, the scope comprises the provision of advice on how to ensure market confidence in the European energy market, hereunder that the market:
| . | Is operated in an efficient and neutral manner and that participants trade on equal terms; |
| . | Provides transparent information that is important for the price formation to all market participants on equal terms; |
| . | Ensures that the price formation reflects the market value of the traded products; |
| . | Provides market surveillance of the trading activity in order to detect possible market abuse; |
| . | Provides a regime where market participants can be punished or abusing the market. |
At the date of the foundation of the WGTI the discussion on a European transparency and integrity regime is mainly confined to the following fields: 3rd IEM Package; Revised EU ETS scheme; and Financial market regulatory reform (e.g. MiFID and MAD).
