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Organized Markets

Reporting transactions concluded on organized market

In accordance with art. 6, paragraph 1 of Implementing Regulation 1348/2014 implementing article 8, paragraphs 2 and 6 of REMIT, market participants shall report to the Agency for Cooperation of Energy Regulators (ACER) details of transactions with wholesale energy products executed at organised market places including matched and unmatched orders  through the organised market place concerned, or through trade matching or trade reporting systems. The obligation referred to above has been effective since 07.10.2015. 
Upon request by the market participant, the organized market where the transaction for a certain wholesale  energy product has been concluded or the order has been placed shall offer a data reporting agreement.
Independent Bulgarian Energy Exchange EAD (IBEX) holds the license for organizing a power exchange market for electricity in the Republic of Bulgaria.  Pursuant to REMIT, in its capacity of an organized market, IBEX is under an obligation, upon a request by the power exchange market participants, to conclude a data reporting agreement in accordance with art. 8, par. 1 REMIT. When IBEX provides this information, this shall be considered as compliance with the obligation of the participant pursuant to art. 8, par. 1 REMIT. 
Executing the abovementioned obligation, IBEX  offers the  service for reporting the  data from trading on the power exchange market pursuant to art. 8, paragraph 1 REMIT.  Each market participant, willing to take advantage of the service offered by IBEX, has to sign an  Agreement for reporting data on transactions concluded on the power exchange market for electricity organized by IBEX.

In accordance with this agreement 
  • IBEX undertakes to provide reporting of the data, which is subject to reporting, from trading on the power exchange market of the market participant and that has been generated in the trading platform used by the power exchange operator.  The data shall be considered reported to the Agency for Cooperation of Energy Regulators /ACER/ when they enter their information platform ARIS (ACER REMIT Information System).
  • IBEX undertakes to report the data of the market participant on the orders submitted and transactions concluded on the power exchange market for electricity with the level of completeness and accuracy required in accordance with Commission Regulation № 1348/2014 of 17.12.2014. 
  • IBEX undertakes, within two weeks after concluding the agreement, to provide to the market participant access to the data reported in accordance with item 7 of the Agreement. 
  • IBEX undertakes not to provide to any third party the data under item 6 of the Agreement as well as not to use this information for purposes other than related to its obligations under REMIT. This obligation shall not restrict the Operator to submit information to regulatory authorities or where required by law.

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