Brussels, 7 May 2013 | We welcome the opportunity to take part in the consultation on the Technical Requirements for Data Reporting under REMIT as well as on the Registration Process of Registered Reporting Mechanisms (RRM) and Regulated Information Services (RIS).
Europex considers it absolutely necessary that from day one of the full implementation of REMIT market participants are required to report all trading data including orders from all market places – be they exchanges or brokers. Otherwise, there is a sincere threat of regulatory arbitrage and infringement with regard to the level playing field between orders traded through exchanges and/or brokers. Of course, this should in no way prejudice the independent decision by trading venues whether they want to report on behalf of market participants and become a RRM.
Please find the consultation response attached.