Member area

First ten clients for EFETnet's MAR compliance solution

06/12/2017

EFETnet has achieved its initial goal in establishing the de-facto standard solution for Market Abuse Regime (MAR) compliance in European energy trading – EFETnet’s electronic Trade Monitoring (eTM) service. The first ten clients will have signed up for the new service before its official launch on 18th December 2017.

EFETnet’s user community includes over 700 licenced users representing in excess of 1,200 market participants, ranging from the very largest to the many medium sized and smaller organisations that are active in European energy markets.

eTM meets the needs of the whole community because it combines both analytical processing required for examining large volumes of market data – with extremely high quality market data itself. The largest members of the EFETnet community can use the eTM market data feed to fuel their in house systems whilst medium and smaller members are able to use the whole package: data and analytical tools, to help easily comply with the requirements of MAR, without the need of a costly and time consuming IT implementation project.

What is MAR?
MAR – the European Market Abuse Regime – has been in force since July 2016. MAR obliges wholesale market participants to introduce systems to monitor their trading. Many companies trading wholesale energy are currently implementing a solution for MAR, so that they can demonstrate compliance. This is not a simple thing to do, as MAR analysis requires a constant flow of high quality data - orders and transactions from all markets, whether traded on exchange, via broker, or bilateral. 

Unfortunately, the obligations resulting from MAR lack clarity, and regulators are unlikely to provide much additional detail. As with regulatory reporting, EFETnet is providing a compliance solution that brings together a critical mass of companies implementing their obligations in a consistent way. In the absence of clear guidance, such de-facto standards are the next best thing.

eTM – the EFETnet solution for MAR compliance
EFETnet launched eTM in Q3 2017 as the standard MAR solution for the EU energy trading market. Through the central collection of data for EMIR and REMIT, EFETnet have already done the heavy lifting of data collection and cleaning. This data can now be reused for MAR compliance. The EFETnet MAR solution ensures that all market participants can comply with regulation at minimum cost.

What do Clients say about eTM?
Between September and November 2017, EFETnet conducted multiple meetings across Europe to introduce eTM to the EFETnet user community. The roadshow was a great success with the first ten clients already signing up to use the eTM service. Here is what some of them had to say:

“While the objectives of the MAR regulation are clear, a lot of detail is missing. We have chosen our MAR compliance solution not based on the number of extra features, but on working with high quality data and on the implementation of the consensus view held by our peers, the traders. Thus choosing EFETnet came natural”. Moritz Muck, Legal Counsel, Syneco

“We attended a number of EFETnet MAR workshops, discussing data and implementation with colleagues from across the European energy trading. Following the MAR data pilot, which used our live trading data from March 2017, we are confident that eTM is the appropriate tool for SSE”. David Trevallion, Regulation Assurance, SSE Energy Supply Limited

“The Iberian gas market is characterized by high volumes being traded in bilateral contracts which are hard to capture in electronic systems. The EFETnet eTM solution allows us to make use of the flexibility provided by REMIT/EMIR  reporting to build a comprehensive market overview, avoiding costly rework”. Hermínio Moreira, Market Compliance Project Director, EDP

“PZEM is an innovative energy company, but our core business is energy, not IT. This is why we appreciate the approach of EFETnet to reuse the data already reported under EMIR and REMIT, and deliver the MAR solution in the cloud. This way we can focus our IT resources on better serving our customers, instead of building another IT project for compliance.” Carolien Wouters, Compliance & Contract Manager, PZEM N.V.

“Trianel has been using the EFETnet compliance solutions since 2016. We are confident that the eTM solution will continue to grow with our needs, and that we are in good hands at EFETnet” Michael Heuterkes, Manager Risk Controlling, Trianel

More information about eTM
EFETnet have scheduled more events for companies interested in learning more about the solution for MAR compliance. The next two webinars will be held on 20 December 2017 and 16 January 2018. Aside from presenting the solution, there will be  room to ask your questions. For more information and registration, please contact registration@efetnet.org.

If you are ready to sign up for eTM and MAR compliance, or have individual questions, please contact support@efetnet.org