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32/58
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A12-AWMS-0
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43/58
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45/58
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A12-AWMS-0
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46/58
suspicious
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A12-AWMS-0
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47/58
de given opresent a sle energy pt changes e;
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A12-AWMS-0
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48/58
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49/58
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n of the im
on
e 13(1), firs3 and 5 andollection acpowers arenalties accopowers, inthe Third Emarkets are
Market Pra
tal 27 of REractices.
nd (3)(a)(ii)ancial serv
European Pulation (marate way for
le 1(5) of Dbly expectety in accord
e laid down cepted mare 1(2) of D
atives markng to Article
cludes the
accepted byT, but AMPAMPs maymarkets.
me way finand activiti
plementati
st subparagd the obligatccording to Ae implemenording to Ar particular nergy Pack
e aimed at w
actices (AM
EMIT, the A
) of REMITvices area, Parliament arket abuse) r market pa
Directive 20ed in onedance within Article 17rket practicirective 200
kets woulde 1(1) of Di
following a
y competenPs under REy be establi
nancial maes; also the
50/58
ion of proh
raph, of REtion set out Article 8 of ted at natio
rticle 18 of tthose pow
kage, to enswith the ent
MPs) regime
Agency’s gu
stipulate thwhich are
and of the Cand which
articipants t
003/6/EC, ‘Aor more figuidelines
7(2) of Direes may eit03/6/EC, or expect torective 200
as regards
nt authoritieEMIT are noshed unde
arket authoe Agency w
hibitions of
EMIT, NRAsin Article 4the Regula
onal level athe Regulatwers confesure that mary into force
e
uidance sho
hat acceptecurrently d
Council of 2may be ad
to secure a
Accepted minancial maadopted b
ective 2003/her apply ir in relation o be mad3/6/EC.
Accepted
s accordingot limited tor REMIT, in
rities have ill distinguis
Ref:
f market ab
s shall ensu4 thereof areation applieaccording ttion apply, Nerred to tharket integre of REMIT
ould addres
ed market pefined by A8 January 2apted if tha
a favourable
market pracarkets and by the Com/6/EC. Unden relation tto the infoe public c
Market Pr
g to Directiv these accen particular
consistentsh between
A12-AWMS-0
buse
ure that the e applied. Ins and the ito Articles NRAs shouhem with trity and tran.
s inter alia
practices suArticle 1(5) 2003 on ins
at Directive ie price for
ctices’ meanare accep
mmission in er Directiveto market mrmation whconcerning
ractices (AM
ve 2003/6/Eepted marker concerning
tly made apractices a
04-03-guidanc
prohibitionn the interimnvestigator13(2) of theld make usethe nationansparency o
the issue o
uch as thoseof Directive
sider dealingis amendeda wholesale
ns practicepted by theaccordance
e 2003/6/ECmanipulatiohich users o
commodit
MPs) unde
EC may alsoet practicesg wholesale
a distinctionand activitie
ce
smyeealof
of
eeg
d,e
see
C,n
ofy
er
os.e
ns
carried strategiepractice
“Activitiehedgingnot condoes nomarketAMP. Hdesirab
Thirdly,of whetbidding,practiceapplicabthe ruleand the
Lastly,regionaa practianotherNRAs, aacceptewebsitelegal teEuropea
The follwhen as
- TTwt
a
- tfdt
out in wholes that ma
es” would co
es” are cong could be ustitute markot arise. Onmanipulatio
Hence to gle.
the Agencther certain, should be
es should bble to their
es of the orrefore the q
the decisiol specificitiece which o
r. However,and to coored. There ise. These wilext once than consulta
owing non-ssessing pa
The level Transparenwhether a ptransparentnon-regulatpractices oas unaccep
the need toforces of sdemand bytransactionsbe accepted
esale energay be undover the wa
nsidered toundertakenket manipuln the other hon, it is unlikgive an “ac
y agrees wn more spe given accbe undertakconduct. Aganised ma
question of g
on whether es. AMPs, tone compete, each NRArdinate with s also an obll be publish
hey have bation proces
-exhaustive articular pra
of transpancy of marparticular mt a practice ted marketn regulated
ptable by co
o safeguardupply and y limiting s can creatd by compe
gy marketsdertaken suay these act
oo broad to in differentation, then hand, if thekely that a cctivity” a b
with financiaecific pract
cepted marken accordis in most oarket placegiving the p
a process therefore, aent authoritA has a duthe Agency
bligation onhed in a sta
been recognss.
list of factoactices in wh
arency of rket practic
market pract is, the mos might fo
d markets. Sompetent au
d the operademand: Mthe opportte higher risetent author
51/58
. “Activities”uch as arbtivities are h
o qualify fort ways. If ththe questio
e “activity” iscompetent ablanket AM
al market autices, suchrket practiceng to the r
of such casewould be s
practice acc
constitutesare primarilyty considersuty to consy prior to di
n the Agencandard ACEnised and
ors shall beholesale en
the relevaces by matice can be re likely it ir structuraSuch practiuthorities;
ation of maMarket practunities forsks for marrities;
” would covbitrage, hedhandled and
r the statushe activity ison of giving s carried ouauthority woP status w
uthorities onh as crossie status, surules of thees, conductsufficient in
cepted mark
s an AMP y the respons is an AMPsult, both nisclosing ancy to coordiER format ahave unde
e taken into nergy marke
ant market arket partic
accepted bs not to bel reasons ices should
arket forcesctices inhibitr other market integrity
Ref:
ver differentdging and d executed
s of AMPss carried ouit accepted
ut in a way ould be prepwould neith
n their consing/pre-arraubject to th
e relevant ot of the pra
n itself to prket practice
or not is ansibility of iP, may not nationally any market pinate and pand a link pergone the
account byets:
practice tipants is cby compete accepted. be less tra not be in t
s and the ting the int
arket particy and are,
A12-AWMS-0
t types of oshort selli
in the mark
. An “activiut in a way
d market prawhich wou
pared to acher be mea
siderations anged tradehe conditionorganised mctice in conromote marstatus wou
a matter ofndividual Nbe viewed
and with othpractices thapublish the Aprovided to
requisite n
y competen
to the whcrucial for nt authoritieHowever, p
ansparent tthemselves
proper inteeraction of
cipants to therefore, l
04-03-guidanc
operations ong. “Marke
ket.
ity” such awhich doe
actice statuld constitutecept it as ananingful no
of the issuees or grosn that these
market placenformity witrket integrity
uld not arise
f national oNRAs and so
as such byher relevanat they haveAMPs on itthe nationa
national and
nt authoritie
ole marketconsidering
es. The lespractices onthan simila
s considered
erplay of thesupply andrespond toess likely to
ce
oret
sssen
or
eseehy
e.
oroy
ntes
ald
s
t:gsn
ard
edoo
- tea
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t
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w
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Overridpracticedynamic
-
-
Competout the
The Aginformaconcernwith the
-ff
-wat
the degree efficiency: Maccepted th
the degree relevant mato the new
the risk inhmarkets, wwhole Unio
the outcomauthority, indesigned toon directly o
the structurnot, the typ
ing principles do not c developm
new or emeby the com
practising faprejudice to
tent authorirelevant ma
gency curretion which
ning wholese competent
Disclosure fulfilling thefollowing a platforms a
Disclosure with compeand agreedto the Agen
to which thMarket prachan those re
to which tharket and emarket situa
herent in thewhether regu
n;
me of any n particular o prevent mor indirectly
ral charactees of whole
es to be obundermine
ment of whol
erging accepetent auth
airness ando normal ma
ties shouldarket practic
ently considusers of
sale energyt national fin
of inside ine RIS requi
public congreed on w
of inside inetition law ad upon by thncy;
he relevantctices whiceducing the
e relevant pnables maration create
e relevant pulated or n
investigatiowhether the
market abusey related ma
eristics of tesale energy
bserved bymarket in
lesale energ
epted markeority simply
d efficiency arket activity
analyse thce.
ders the apwholesale
y products fnancial mar
nformation trements msultation an
with relevant
nformation and notified he national
52/58
t market prah enhance
em;
practice takrket participed by that p
practice forot, in the re
on of the re relevant me, or codes arkets within
he relevanty products t
y competentntegrity, whgy markets:
et practicesy because th
by market y and mark
e impact of
pplication oe energy mfor the follorket authorit
through regentioned abnd notified tt NRAs for r
in an aggrto the AgeNRA with t
actice has liquidity an
kes into accants to reac
practice;
r the integrielevant wh
relevant mamarket pracof conduct
n the Union
t market intraded and
t authoritieshile fosterin:
s should nohey have no
participantsket integrity.
f the releva
of the AMPmarkets woowing incidty:
gional or nabove if nomto the Agenrelevant ma
regated/anoency if consthe national
Ref:
an impact ond efficiency
ount the tract properly
ty of, directolesale ene
arket practctice breach, be it on th;
cluding whthe type of
s to ensureng innovatio
ot be assumot been pre
s is required
ant market p
Ps regime ould expecents and p
tional insideminated by ncy. NRAs
arkets;
onymised wsidered nece competitio
A12-AWMS-0
on market y are more
ading mechaand in a tim
tly or indireergy produc
ice by anyhed rules ore market in
ether it is rmarket par
e that acceon and the
med to be ueviously acc
d in order n
practice bef
only in relact to be mpossibly in c
e informatiothe compeshould aim
way in ordeessary at n
on authority
04-03-guidanc
liquidity and likely to be
anism of themely manne
ectly, relatedct within the
y competenr regulationn question o
regulated orticipants.
pted markee continued
nacceptablecepted by it;
not to create
fore carrying
ation to themade publicoordination
on platformtent NRA(s
m at regiona
er to complational leveand notified
ce
de
eer
de
nts
or
or
etd
e;
e
g
ecn
ss)al
yeld
-
a
7.6.3 C
The Agetowardsrequiremshould participa
- C
- C
- Cod
- C
- Cc
- C
ooo
-
7.6.4
When Mtake all Regulatmay cobut alsocompetediscloseAgency
Definition orelevant waccepted by
Complianc
ency is of ts real time ments, beyoconsider thants, but ta
Compliancerequiremen
Complianceregistration
Complianceorganisatiodecentraliseprovision of
Compliance
Compliancecompliant b
Communica
o internal o externao reportin
of curre
Monitoring results; doc
Penalty reg
Member Stameasures
tion, NRAs nsist of breo of breachent NRA ine inside info and the co
of national/wholesale g
y the compe
ce regime
he opinion or close toond complihe followingking into ac
e culture: nts,
e objective, disclosure
e organisatn (e.g. red), internaf resources
e risks: the
e programmbehaviour,
ation: the co
communical communicg processent processe
improvemecumentation
gimes
ates lay downecessary should wor
eaches of thhes of the on situationsormation acompetent N
/regional thgas marketetent NRA(
that marketo real time ance with eg best pra
ccount the m
the creati
es: the ce and report
tion: the dresponsibilital vs. exte: human / te
identificatio
me: the ide
ommunicati
ation and trcation and res: internal res, etc.
ents: internn of process
wn the rulesto ensure trk towards he market aobligation tos accordingccording to ANRA of dela
53/58
hresholds fts followings) and notif
t participandisclosure existing Thctice exam
market parti
on of a
compliance ting obligati
definition ofties for ternal reporechnical (IT
on / assessm
ntification o
on of the ru
raining concreporting to reports on c
al controlsses and act
s on penaltithat they arpenalties fo
abuse prohio notify the
g to Article Article 4(1) yed disclos
for the disg consultatfied to the A
ts should dof inside inird Package
mple of succipant’s siz
corporate
with REMons and the
f roles andthe REMITrting lines, T Systems) r
ment of con
of concrete
ules and reg
cept (raisingthe Agency
compliance
, audits, etions.
ies applicabre implemenor all potentibitions of A
e relevant in3(4)(b) of of the Reg
sure of insid
Ref:
sclosure oftion of ma
Agency.
evelop a clnformation ae transpare
ch complianze and tradin
culture to
MIT require market ab
d responsiT requirem
internal vresources),
crete comp
e actions to
gulations to
g the awarey/NRAs; , reporting o
tc.; reportin
ble to infringnted accordtial infringe
Articles 3 annformation the Regulaulation, the
de informat
A12-AWMS-0
f inside infarket partic
ear compliaand the fur
ency obligatnce regimeng capacity
comply w
rements, nbuse prohib
bilities in ments (cents. external
pliance risks
o define com
be observe
ness of em
of infringem
ng lines for
gements of ding to Articments of Rnd 5 of the to the Ageation, the o
e obligation ion accordi
04-03-guidanc
formation icipants and
ance regimerther REMITtions. NRA
e for markey:
with REMIT
namely theitions,
the internatralised vsl interfaces
s,
mpliant/non
ed:
ployees);
ments, statu
r monitoring
REMIT andcle 18 of the
REMIT whicRegulation
ncy and theobligation toto notify theng to Article
ce
nd
eTs
et
T
e
als.s,
n-
s
g
deh
n,eoee
4(2) of market obligatioobligatioRegulat
the Regulatransaction
on to registeons of pertion.
ation, the obns, includinger with the rsons profe
bligation to g orders tocompetent
essionally a
54/58
provide theo trade, acc
NRA accorarranging t
e Agency wcording to Arding to Artiransactions
Ref:
with a recorArticle 8(1) cle 8(1) of ts according
A12-AWMS-0
rd of wholeof the Reg
the Regulatg to Article
04-03-guidanc
esale energgulation, thetion, and thee 15 of the
ce
yeee
Bes
InCo
InMeDePuMaMaAffStPrAffTyInsAvEvEvDuEv
Re
Re
st practice e
Te
ndication oonsumptio
ndication oessage Dateecision Date ublication Daarket Particiarket Participffected regiontation:roduction/Coffected unit(sype of fuel(s)stalled effectvailable Capavent start: vent stop: uration uncervent status:
emarks/Addit
elated Info
example ofinform
emplate for
of Event Ton/Planne
of Event Le and Time:
and Time: ate and Timeipant: pant ID: nal area(s):
nsumption/T):
):t (MW): acity during e
rtainty:
tional inform
ormation:
f Urgent Mmation in th
r reporting
Type (e.g. Ced Outage
Lifecycle (e
:
Transmission
event (MW):
ation:
55/58
Annex
arket Messhe wholesa
inside info
Changese (Mainten
e.g. follow
n:
1
sage (UMMale electric
ormation at
in Producance)/Unp
w-up)
Ref:
M) for the diity market
t Nord Poo
ction or planned O
A12-AWMS-0
isclosure o
ol Spot
Outage)
04-03-guidanc
of inside
ce
Bes
Templa
ReMaMeCoAsAsStaEnDuCaFloAvmaAd
st practice e
ate for Reg
eference narket: essage type: ompany: set type affeset unit affecarting time of
nding time of uration uncerause: ow capacity ivailable capaaintenance: dditional infor
example ofinf
gulatory Re
number
ected: cted: f capacity chcapacity cha
rtainty:
nfluenced (Mcity during o
rmation:
f Urgent Mformation i
eporting fo
hange (gas dange (gas da
MWh per gasutage or
56/58
Annex 2
arket Messn the whol
r Danish of
ay):ay):
s day):
2
sage (UMMesale gas
ffshore gas
Ref:
M) for the dimarket
s assets an
A12-AWMS-0
isclosure o
nd storage
04-03-guidanc
of inside
es facilities
ce
Annex:
Descrip
Reasonmanipu
Identitie
Identitie
Furtheryou are
Details
Suspiciou
ption of the
ns for suspulation
es of the m
es of any o
r informatioe supplying
of the pers
us transact
Su
e transactio
pecting tha
market part
other marke
on which mg)
son submi
tion reporti
uspicious tr
on(s)
t the transa
ticipant car
et participa
may be of s
tting the no
57/58
ing format
ransaction
action(s) m
rrying out t
ant known
significance
otification
reporting
might const
the transac
to be invo
e (please li
Ref:
format
titute insid
ction(s)
lved in the
ist any acc
A12-AWMS-0
der dealing/
e transactio
companyin
04-03-guidanc
/market
on(s)
g material
ce