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The Regulation
(EU) No. 1227/2011 of the European Parliament and of the Council dated
October 25, 2011 on the integrity and transparency of the wholesale energy markets,
establishes common rules at European level to prevent abusive practices in the wholesale
markets for electricity and natural gas, and imposes:
- the prohibition of market manipulation, attempted market manipulation as well
as of insider trading, assigning specific functions of market monitoring to ACER
and the national regulatory authorities;
- the obligation for market operators to publish their
confidential information and to send ACER, directly or through third parties, the data about those
transactions carried out (buy and sell orders submitted and transactions concluded)
on the wholesale energy products.
- the obligation for anyone professionally performing transactions on wholesale energy
products to report promptly to the National Regulatory Authority (ARERA) any reasonable
suspicion of market abuse, as well as to implement appropriate procedures to identify
the aforementioned violations.
In order to implement the provisions by Articles 8, Paragraph 8.2 and 6, Paragraph
6.1 of REMIT, the European Commission, with the adoption of the
Implementing Rules (EU) No. 1348/2014 (Implementing Acts), established the methods and timing
for the fulfillment of the reporting obligation towards ACER with reference to those
transactions related to the wholesale energy products. More implementation details
are provided by Acer in the documents TRUM
and in RRM requirements, while
guidance on the interpretation of the obligations of the operators are exemplified
in the third edition of
ACER Guidelines.
In this context, GME:
- supports ARERA under Law 161/2014 in conducting investigations relating to cases
of suspected violation of the prohibitions of insider trading and market manipulation,
as well as in the event of failure to comply with the obligation to publish confidential
information;
- offers operators a comprehensive service of data
reporting to Acer;
- offers the market a platform for the publication of inside information
Data of ACER
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