REMIT II introduced new requirements for power market participants to establish trade surveillance arrangements to identify, analyse and report suspicious activity. In this newly devised course, we share insights from our long experience in operating world-leading market surveillance, to help you to establish or improve your company’s trade surveillance setup. 

The course is relevant for any business: 

• Engaged in algorithmic trading and in the process of establishing systems and risk controls to ensure trading systems comply with REMIT 

• Qualifying as a Person Professionally Executing Transactions (PPET) under REMIT II and looking to boost their setup 

• Already having market surveillance or trade surveillance in place, but looking for ways to improve 

The course takes place in Oslo on Tuesday 4 November, comprising an interactive whole-day session hosted by Nord Pool’s expert Market Surveillance team. 

Topics include: 

1. Introduction to regulatory requirements 

We start from the foundations, analysing the actual legal obligations contained in REMIT II. We also look into the regulation of financial markets, to draw inspiration for setting up trade surveillance. Finally, we introduce the REMIT Best Practice report – the unrivalled sector review on how market participants can stay compliant with REMIT. 

2. Risk Assessment 

Risk Assessment is the basis of trade surveillance. This is where you assess your risks of breaching various prohibitions (for example the risk of unknowingly engaging in a specific type of market manipulation) and decide on priority areas for establishing compliance checks and automatic controls. We discuss best practice for drafting risk assessment, share our thoughts on high risk areas based on our experience and guide you through the process of handling the risks. We will focus on the physical power markets: day-ahead, intraday and balancing markets. Expect plenty of examples and practical guidance that you can use for setting up your own tools to ensure compliance. 

3. Monitoring strategy 

If Risk Assessment is the basis, then Monitoring Strategy is your everyday handbook on how trade surveillance operates. We provide an example structure of a monitoring strategy and explain each section. 

4. Special focus: algorithmic trading 

With the revised REMIT in force since 2024, algorithmic trading in wholesale energy markets is now subject to defined regulatory requirements. We outline key obligations for algorithmic traders and offer practical guidance on how to ensure compliance in an increasingly automated trading environment. 

5. Trade Surveillance setup: tying everything together 

We use an example of Market Surveillance at Nord Pool and explain how the full setup looks, including an example for processing an incident – from receiving an alert, to making a Suspicious Transaction or Order Report (STOR). This will help you see the whole picture and ensure you know which parts of your current setup could require improvement. 

Course fee includes: 

• Full-day course in Oslo 

• Lunch and coffee breaks 

• Certificate of participation in the training session 

The participant fee is EUR 1000 (Nord Pool members and stakeholders get a 25 % discount). 

Can’t make it to Oslo? No problem; exclusive courses can be arranged on request. Choose between online meetings, or in person at Nord Pool offices – or we can visit your workplace. Please note: we have limited capacity to host exclusive courses. 

Questions?  

Feel free to send any questions you have about the course to [email protected] or call us on +47 459 79 183.