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Market surveillance

“Persons professionally arranging transactions in wholesale energy products shall establish and maintain effective arrangements and procedures to identify breaches of Articles 3 or 5”. (Article 15 of REMIT)
Any person professionally arranging transactions in wholesale energy products has the duty to establish and maintain effective arrangements and procedures to identify the above mentioned breaches of REMIT.
The Agency currently considers independent market surveillance departments in the case of energy exchanges and compliance officers in the case of brokers as best practices of effective arrangements to identify breaches of the prohibitions of market abuse. Applicable rules for market surveillance and compliance in the EU financial market legislation may serve as a guidance to establish and maintain such mechanisms.
For further guidance, please consult the ACER Guidance on the application of REMIT.