Głowacki Law Firm

REMIT reporting - cascade trades
REMIT Reporting Database



Question 2.3.2 ACER's Frequently Asked Questions (FAQs) on REMIT transaction reporting, 8 September 2015, REMIT Portal


Futures trades on exchanges can cascade. Are cascades reportable?


Example: Participant executes a futures trade on an exchange. Trade goes into delivery, resulting in the creation of one or more physical trades by the exchange.


Cascaded trades are not reportable because the original futures trade will have been reported by the participant.




Please see the TRUM and Annex III to the TRUM which already clarify what it is a reportable transaction. Cascade trades are post-trade events and not reportable because the original futures are reported by the participant. Cascade trades are not transactions in the REMIT sense. This is in line with the meaning of entering into transaction according to Article 5 of MiFID I where the meaning of entering into transaction does not include actions related to option exercise, settlement or clearing.




Last Updated on Monday, 21 March 2016 23:17


Copyright © 2009 - 2019 Michal Glowacki. All rights reserved.
The materials contained on this website are for general information purposes only and are subject to the disclaimer