Brussels, 14 March 2018 | Europex welcomes the opportunity to take part in the “fitness check on supervisory reporting” of the European Commission and to discuss the effectiveness and efficiency of existing EU-level supervisory reporting requirements.
We deeply believe in the simplification and streamlining of regulatory reporting. Electricity and gas derivative contracts are covered by reporting obligations stemming from four pieces of legislation: namely EMIR, MiFID II/MiFIR, REMIT and MAR. This constitutes a heavy reporting burden for energy exchanges and clearing houses as well as for market participants. Consequently, there is a need to streamline the requirements in order to avoid double reporting (see table below). For example, trades that have to be reported under REMIT or MiFID II/MiFIR should not need to be reported again, if they have already been reported under EMIR. At the moment, Europex’ member exchanges are delivering partially overlapping data in the context of EMIR, MiFID II/MiFIR and REMIT reporting.
Please read the full consultation response below.
