Trading in energy derivatives is subjected to a fragmented regulatory framework which is largely designed for capital markets. Since 2011, a tailor made regime for the energy sector is in place; REMIT. Market participants need to find their way in this diverse set of obligations and prohibitions. This article describes the regulatory paradigm to which market participants need to adhere and the practical impact on trading in energy derivatives. Data reporting obligations, position limits and the prohibition on insider trading, market manipulation and the disclosure of inside information are discussed in more detail. The article concludes that REMIT fills in a regulatory gap, but its existence is not necessarily inevitable to capture energy derivative trading under a supervisory regime which is adapted to the specifics of energy markets.

中文翻译：

---

REMIT：十年和计数

能源衍生品交易受制于主要为资本市场设计的分散监管框架。自 2011 年以来，为能源部门制定了一个量身定制的制度；汇。市场参与者需要在这一系列不同的义务和禁令中找到自己的方式。本文描述了市场参与者需要遵守的监管范式以及对能源衍生品交易的实际影响。更详细地讨论了数据报告义务、头寸限制和禁止内幕交易、市场操纵和内幕信息披露。文章得出结论，REMIT 填补了监管空白，但它的存在对于在适应能源市场具体情况的监管制度下捕获能源衍生品交易而言并非必然。