Marex Spectron Remit Service Goes Live

October 5, 2015

The REMIT Implementing Acts are new European Union regulations that require energy trades, contracts and orders to be reported to the Agency for the Cooperation of Energy Regulators (ACER). They are designed to ensure that regulators have a single resource for monitoring and recording activities in the energy trading markets. Reporting for ‘standard’ transactions arranged by voice or executed on an electronic platform or marketplace, including all orders, contracts and trades, starts on 7th October 2015.

EFETnet eRR, acting as an RRM (registered reporting mechanism), is the industry’s most widely adopted response to complying with regulatory reporting requirements under REMIT. EFETnet, the operational service organisation of EFET (European Federation of Energy Traders), developed and successfully launched eRR, its new electronic Regulatory Reporting Service for Europe.

Jeremy Elliott, Managing Director, Energy at Marex Spectron said: “We have been at the forefront of industry efforts to ensure that our clients’ REMIT reporting requirements can be met without disruption to ordinary business. As we promised, having been subject to significant testing with market participants’ our service has been available well ahead of the deadline.–.”

For further information, please contact:

Richard Lindsay
Head of Corporate Communications
+44 (0)20 7650 4091


About Marex Spectron’s REMIT solution

Q. Can Marex Spectron support more than one RRM?
A. Marex Spectron cansupport additional RRM’s such as Trayport Complete who adhere to the ACER XML standard although this may be on a post-box mechanism.

Q. Does Marex Spectron charge for this service?
A. No charges are anticipated for standard services

Q. Are the market participants able to access the data sent to ACER on their behalf?
A. EFET clients will be able to access their data on the EFET portal.

Q. Does Marex Spectron require a Data Reporting Agreement between the Market Participant (MP) and the Organized Market Place (OMP)?
A. Marex Spectron requires a BI Lateral Data Reporting Agreement based on the EFET/LEBA format to be completed between the MP and OMP

Q. Regarding changes of transactions traded at an organized market place that occur after an agreement between the two counterparties outside of the market, do you provide the service to submit updates of the information on behalf of the market participants?
A. We can support amendments on T and class amendments on T+1 as lifecycle events that are not supported.

Q. Does Marex Spectron offer a back-loading service?
A. No

Q. Can we receive the UTI in electronic format?
A. The UTI is present on all deals arranged via Trayport and therefore is made available to you via the Trayport API for client consumption

Q. Does the data require enrichment by the MP’s
A. No, although lifecycle events and potentially Beneficiary ID will need to be updated, the MP will need to send lifecycle events directly to the RRM

About Marex Spectron Group Limited

Marex Spectron is a leading independent global commodities brokerage headquartered in London but with a global network spanning Asia and North America, and dominant market shares in many major Agricultural, Metal and Energy products.

Our mission is to ensure that we offer our clients unequalled access to liquidity in global commodity markets, on-exchange or off-exchange. Our business is integrated, truly global and prudently managed.

We offer electronic and voice broking services, with state of the art networks to facilitate complex trading strategies. We offer insight and know-how, based on decades of experience, a vast market data set and the latest analytic tools.

While commodity markets form the core of our business, we have responded to client demand for broader services and have active, successful, teams broking financial futures and options, and fixed income and equity securities.

We also have a division that provides a full suite of services to trading firms who need to outsource infrastructure, support operations and the management of electronic trading solutions.

We have a broad range of clients including commodity producers and consumers, banks, hedge funds, asset managers, brokers, commodity trading advisors and professional traders.

We are members of the London Metal Exchange (LME; where we are a Ring Dealer), the CME Group exchanges, ICE Group exchanges and many others.

We are regulated in the UK by the FCA, in the US by the NFA and CFTC, in Hong Kong by the SFC, and in Singapore by the MAS.

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