1.1 Scope and purpose of the TRUM
The Agency has developed the TRUM to facilitate reporting to the Agency under Regulation (EU) No 1227/2011 (REMIT)[1] in order to ensure operational reliability according to Article 12(1) of REMIT.
Article 5(2) of Commission Implementing Regulation (EU) No 1348/2014[2] (hereinafter: “REMIT Implementing Regulation”) stipulates that the Agency shall explain the details of reportable information referred to in Article 5(1) of the REMIT Implementing Regulation in a user manual and after consulting relevant parties make it available to the public upon entry into force of the REMIT Implementing Regulation.
The TRUM is intended to provide market participants with guidance to make informed decisions about their transaction reporting obligations. The TRUM explains the details of the reportable transaction data by providing guidance on how to populate the data fields included in the REMIT Implementing Regulation, including the formats and standards that apply to reporting. The TRUM is not intended to be a replacement of the REMIT Implementing Regulation.
The TRUM and its Annexes were and will be further updated in subsequent editions on the basis of the experience gained by the Agency through the implementation of REMIT, including data quality analysis and feedback from market participants and other stakeholders. The Agency anticipates that subsequent updates of the Annex II of TRUM will cover details and examples on reportable information following also the energy market developments and introduction of the new market concepts and/or products.
All subsequent editions of the TRUM containing conceptual changes and/or novelties in the REMIT reporting will be made publicly available and consulted upon in due time, in accordance with Article 5(2) of the REMIT Implementing Regulation which states that the Agency shall consult relevant parties on all material updates of the user manual. The Agency also issues a REMIT Quarterly newsletter where inter alia relevant updates regarding transaction reporting obligations are provided.
The technical and organisational requirements to be fulfilled by reporting entities in order to become a Registered Reporting Mechanism (hereinafter: RRM) are defined in the Agency’s Requirements for the registration of Registered Reporting Mechanisms, including the Technical Specifications for RRMs.
Please note that the TRUM does not cover the reporting of fundamental data. For further information in that regard, please consult the Manual of Procedures on transaction and fundamental data reporting which, in accordance with Article 10(3) of the REMIT Implementing Regulation, establishes procedures, standards and electronic formats for the reporting of transaction and fundamental data.
[1] OJ L 326, 8.12.2011, p.1.
[2] OJ L 363, 18.12.2014, p. 121.