III.7.22.

III.7.22.

Assuming that a market participant uses the own company website as backup for the publication of inside information. What are the minimum data quality requirements for effective disclosure of inside information which apply in this case (for the backup solution)?


Answer: According to Article 4(1) of REMIT, market participants shall publicly disclose inside information which they possess in an effective and timely manner.

ACER believes that, in order to achieve effective disclosure according to Article 4 of REMIT, the information shall be disclosed using a platform for the disclosure of inside information (Inside Information Platform or IIP), i.e. an electronic system for the delivery of information which allows multiple market participants to share information with the wider public and complies with the minimum quality requirements listed in Chapter 7.2.2 of the ACER Guidance on REMIT.

In case an inside information platform is temporarily unavailable, a market participant shall refer to the backup solution provided by the IIP, as indicated in Chapter 7.2.2 of the ACER Guidance on REMIT.

However, in the light of the exceptional circumstances triggered by the Covid-19 pandemic , ACER made it possible for market participants to temporarily publish inside information on their own corporate website as a backup solution, until 31 December 2021. Such an exceptional condition might apply as long as the market participant website used as a backup solution fulfils some minimum data quality requirements indicated in the Open Letter on the impact of Covid-19 on certain compliance deadlines under REMIT of 20 November 2020.

Market participants using a backup solution shall provide information on the backup solution in the process of registration according to Article 9(5) of REMIT.

Updated: 
14/12/2021