Energy trading firms unready for Remit, survey finds

IT systems not geared for trade reporting under EU anti-manipulation law

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Only a quarter of energy trading firms that responded to a survey by Energy Risk said their IT systems were ready for the European Regulation on Wholesale Energy Market Integrity and Transparency (Remit).

Remit bans market manipulation and insider trading in European power and natural gas markets. Although the law has been in place since December 2011, one of its most important requirements – the mandatory reporting of trades and orders to trade – is due to be implemented for the first time late