MARKET MONITORING
Market monitoring is an essential function, designed to create confidence in the market, ensure its efficiency and integrity and promote its liquidity.
Within GME, this activity is carried out by a dedicated structure, which supervises market/platform transactions on a daily basis, including through automatic alerts and specific procedures, in order to identify any conduct of partecipants that does not comply with the provisions of the Regulations/Disciplines of the Rules/Regulations governing GME’s markets/platforms and with the relevant European and national legislation/regulations.
Institutional cooperation
GME cooperates in the monitoring activities of ARERA, by providing data, report, analyses and simulations. This cooperation, initiated as part of the support activities that GME performs pursuant to ARERA's Resolutions ARG/elt 115/08 (TIMM) and 631/2018/R/gas (TIMMIG), was established by Law n. 161 of 30 October 2014 (in force since 25 Nov. 2014) - enabling ARERA to resort to GME when investigating suspected cases of market abuse - and by Regulation (EU) No. 1227/2011 on wholesale energy market integrity and transparency (REMIT).
Transparency
Any disciplinary measure taken by GME towards market/platform participants is published in a special section of GME's website.
REMIT
With regard to the obligations falling on market/platform participants in terms of data reporting and disclosure of inside information (under REMIT, articles 8 and 4, respectively), GME is registered with ACER
- as Organised Market Place (OMP),
- as a Registered Reporting Mechanism (RRM), included in ACER’s List of RRMs (ACER code B00009070.IT),
- as an Inside Information Platform, included in ACER’s List of IIPs.
Moreover GME published a list of standard contracts admitted to trading in its markets on ACER’s website