Nord Pool Certified Compliance Course - REMIT, Transparency Regulation and the UMM Platform

8 February 2022 CET 9:00 – 16:00

For Nord Pool’s Certified Compliance Course on Thursday 23 September, our highly experienced Nord Pool Market Surveillance team will provide participants with a comprehensive understanding of regulation in the European physical power market.

The course will also cover the many compliance features Nord Pool offers, including the UMM platform for publication of inside information and our system reporting orders and transactions to ACER. 

One week before the live-streamed presentations, all participants will gain access to online material covering important aspects of the regulation of the European power market. This material also includes a test of knowledge which must be completed one week after the live presentation. Pass the test and you will receive a digital diploma proving your successful completion of the Nord Pool Certified Compliance Course. 

The course is held online and managed by Nord Pool’s in-house experts in close cooperation with the team at Nord Pool Consulting. Subjects covered include:

  • Explaining REMIT and Transparency Regulation, with relevant case law
  • Presentation of REMIT Best Practice Report – a sector review on REMIT best practice compliance measures
  • Algorithmic trading and best practices 
  • Presentation of Nord Pool’s proven REMIT UMM service including live training
  • Explaining the European market monitoring framework  
  • Q&A session: Your questions answered (can be submitted in advance, to Nord Pool Academy anonymously or for all to read in the chat)
  • Interactive sessions to revise key topics
  • Online training material, including knowledge test
  • Digital diploma shared on social media (provided the online knowledge test is passed!)

Regulation relevant outside the EU or IEM (Europe’s Internal Energy Market): 

Nord Pool Market Surveillance will cover general topics of interest for countries outside the EU, in particular UK and Norway. This includes coverage of NEM (“Forskrift om nettregulering og energimarkedet”), our cooperation with RME (Norwegian NRA)our role in the UK, and trading on North Sea Link which is outside the IEM. Please let us know if there is specific topics you want us to cover. 

Your questions answered: 

Prior to the course you can anonymously share specific questions you might have on how to ensure compliance with regulation. These will be answered by our experts during in the live presentations .  

You are also encouraged to ask questions throughout the webinar via the chat that will be available during streaming.

Who should join? 

This course will be of great value to anybody who is trading wholesale electricity contracts, or whose work is otherwise connected to the wholesale electricity market and anybody working towards fulfilling requirements under applicable law: 

  • Traders
  • Managers
  • Compliance officers and staff
  • System providers (e.g. trade support systems or developing algorithmic trading solutions) 
  • Transmission System Operators  
  • National Regulatory Authorities  
  • Power exchanges using Nord Pool as a service and system provider 
  • Anybody who wants to understand the finer details of the common European power market

Languages 

All presentations and slides will be in English. Questions can be asked in English, any Scandinavian language, or Russian.

When and how

  • Live streamed online only– Tuesday 8. February 2022 CET 9:00- 16:00 Online course material will be made available prior to the live presentations 
  • Online course material will be made available prior to the live presentations 
  • Online test of knowledge must be completed one week after the presentations 
  • Questions can always be sent to Nord Pool Market Surveillance, but if you send it before the course, we can include answers in the presentations for your benefit (questions are anonymized of course)  

Presenters and coordinator 

  • Jon Rokne Bolkesjø, Market SurveillanceAnalyst, Nord Pool 
  • Chanpreet Talwar, Trading Adviser and UMM service owner, Nord Pool 
  • Christian GiswoldMarket Surveillance Analyst, Nord Pool 
  • Ekaterina Moiseeva, Manager Market Surveillance, Nord Pool 
  • Peder Grimstad Helset, Market SurveillanceAnalyst, Nord Pool 
  • Haakon Reiersen Leknes, Director Nord Pool Academy 

 Agenda: 

09:00: Introduction by host Haakon Leknes, Nord Pool Academy  

09:10: Introduction to relevant regulations and inside information by Jon Rokne Bolkesjø: 

  • Introduction to the EU regulations 
  • Transparency Regulation 
  • Introduction to REMIT 
  • Introduction to REMIT Best Practice report 
  • REMIT Inside information and insider trading

10:00: REMIT and insider trading by Jon Rokne Bolkesjø and Chanpreet Talwar  

  • REMIT Best Practice: inside trading 
  • UMM system
  • UMM system demo
  • REMIT transaction reporting

11:00: Market manipulation in REMIT by Ekaterina Moiseeva 

  • REMIT Market manipulation 
  • Capacity Withholding
  • Cross-market manipulation
  • Bidding errors
  • Case law: Hungarian TSO
  • Wash trades
  • Capasity hoaring

12:00 Lunch  

13:00 Market manipulation in REMIT by Jon Rokne Bolkesjø: 

  • Layering and spoofing
  • REMIT Best Practice: Market manipulation
  • Kahoot! on market manipulation

14:00 REMIT Best Practice: Algorithmic trading, Ekaterina Moiseeva 

14:40 Market Surveillance at Nord Pool, Peder Grimstad Helset 

15:00 Kahoot! and final remark  

16:00 Live streaming complete, one week to compete the online test of knowledge. Feel free to ask questions directly to Nord Pool Market Surveillance. 

Fee 

  • Fee is in Euro, but payment can be done in USD, GBP or any of the three Scandinavian currencies.
  • Fee includes live presentations, a copy of all slides, access to online material and knowledge test, and when the test  passed a digital diploma
  • 50% discount for Nord Pool members (pay just EUR 500 per person).  
  • Non-members - EUR 1000 per person.  
  • Additional 10% discount for three or more attendees from the same organisation, provided we can send only one invoice. 

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