Frequently Asked Questions
More information about the REMIT Transaction Reporting Service and the REMIT Portal can be found through the user manual which includes a Q&A. For specific questions, requests and feedback please contact us at email@example.com, or directly by the Help pages within the REMIT Portal.
1. Is Nord Pool a Registered Reporting Mechanism (RRM) with ACER?
Nord Pool is a Registered Reporting Mechanism (RRM) with ACER and Nord Pool AS (valid for all markets including the UK N2EX market) is registered as an RRM with the following ACER Code: B0000116N.NO.
2. What REMIT services will Nord Pool offer Market Participants
Nord Pool will offer a full REMIT service for reporting transactions (including orders to trade) to ACER.
This will include the reporting of:
• Service 1A: Reporting of contracts traded at Nord Pool to ACER
• Service 1B: Reporting of contracts traded at Nord Pool through a 3rd party RRM
• Service 2: Automated forwarding of data to ACER (updated)
• Service 3: Reporting of bilateral contracts to ACER (new)
3. Do Nord Pool offer the same service in all markets (Nordic/Baltic/UK/Germany)?
Yes, Nord Pool REMIT service can be used in all markets. This includes, but is not limited to, the Nordic, Baltic and UK markets.
4. Are there any specific limitations regarding the OMP (other organised market places) contracts reporting?
Yes. This data will have to be submitted to our reporting system automatically through a REMIT API, and the data should be in the ACER XML file format.
5. What format will Nord Pool use in order to report to ACER?
All data will be reported automatically to ACER in the specified ACER XML file format.
6. Will Nord Pool report to 3rd Party RRMs?
Yes, Nord Pool can report on behalf of a Market Participant to a 3rd party RRM. Nord Pool will only provide the data in the specified ACER XML file Format
7. Will Nord Pool provide data to Market Participants?
Yes. If a Market Participants prefer to report their trade data themselves to another RRM, rather than use Nord Pool reporting service, they can on request get their trade data from Nord Pool.
8. Will Market Participants be able to see whether their trade information has been submitted to ACER?
Yes, Nord Pool has developed a portal so that market participants can see when data is sent to ACER and whether it was submitted successfully. This will be a web based solution with a specified user sign on.
9. What service level agreements will Nord Pool have in place?
Nord Pool is certified RRM, having met the reporting requirements of ACER. By subscribing to the Nord Pool REMIT service Market Participants are able to enter into an agreement and select the specified service they require to meet their obligations. This agreement denotes the roles and responsibilities of the service being provided.
REMIT OTC Service
10. Will Nord Pool offer a reporting solution for OTC trades as well?
Yes. Nord Pool can report OTC contracts and executions.
11. When will the relevant agreements regarding the service become available?
Agreements and General Terms and Conditions are available on our website.
12. What is the planned timeline for the implementation of Nord Pool REMIT OTC reporting service?
The Nord Pool Remit OTC Reporting Service is now open for registration and you can sign up to the services here or please contact your local sales manager or register your interest at firstname.lastname@example.org
The service is available since 7 April 2016.
14. What will the services cost be?
15. Will Market Participants be able to see whether their trade information that has been submitted to ACER?
Yes. Nord Pool is extending the current portal to also include OTC data sent to ACER. The market participants will be able to see whether the data has been successfully sent to ACER. This is a web-based solution with a specified user sign on.
16. Can Nord Pool´s REMIT OTC service be used for reporting supply contract for gas?
Yes, both electricity and natural gas supply contracts can be reported through Nord Pool Remit Services.
17. What is a UTI and how do I get it?
Market participants shall report the unique identifier for a transaction (UTI) assigned by the organised market place of execution, or by the two market participants in case of bilateral contracts, to match the two sides of a transaction. Nord Pool uses ACERS algorithm to generate UTI for contract and execution automatic in Nord Pool´s Remit application, relevant for service 3.
Market participant can also input their own UTI if preferred.
18. Can a company report on behalf of their subsidiaries and its counterparties?
Yes, a company can report on behalf of and relating to a third party. In this case, Nord Pool will only have an agreement with the reporting company.
You can contact your Regional Market Manager (see the list below) or contact us directly on the e-mail address email@example.com.
|Norway||Geir Dvergastein||+47 95 92 08 51|
|Sweden and Eastern Europe||Stig Åhman||+46 8 555 166 07|
|Western & Eastern Europe||Sami Oksanen||+358 968404825|
|Denmark||Henrik Hansen||+45 8180 7394|
|The Baltics||Ingrid Arus||+37 253412159|
|Finland||Vassi Kujala||+358 445582774|
|UK||Frank Thompson||+44 7753851022|
|Central Europe||Natalia Makeeva||+49 30700159831|