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electronic Trade Monitoring (MAR)

MAR – the European Market Abuse Regime – has been in force since July 2016. Mainly designed for financial markets, participants in European energy wholesale markets have to introduce appropriate systems to monitor their trading as well. Many companies have started building MAR systems. We expect these systems to come under scrutiny for the first time during the next annual audits.

Unfortunately, the MAR obligations lack clarity. This is unlikely to change soon. In the absence of regulatory guidance, implementing compliance systems in line with the majority of the market is a wise strategy – the market can’t all be wrong at the same time. As with EMIR and REMIT over the past few years, EFETnet is providing a compliance solution for a critical mass of companies implementing their obligations in a consistent way, yet configurable to each companies unique situation and attitude to transaction monitoring.

Any MAR system requires a constant flow of high quality data - orders and transactions from all markets, whether traded on exchange, via broker, or bilaterally. Through the central collection of transaction data under EMIR and REMIT regulations for over 700 traders active in EU energy markets, EFETnet have already done the heavy lifting of data collection and cleaning. This data can be reused for MAR compliance – centrally, and without the need for a costly IT project at the market participant’s end.

For more information please contact Hugh Brunswick at support@efetnet.org