All Integrations

REMIT Long-Term Storage Service

Compliance
PowerBot's optional REMIT Compliance Storage Service simplifies meeting REMIT II record-keeping obligations for algorithmic trading with secure, reliable data storage in the AWS Cloud.
https://www.powerbot-trading.com/
All Integrations

REMIT Long-Term Storage Service

Compliance

REGULATION (EU) No 1227/2011, also known as REMIT, establishes rules prohibiting abusive practices in wholesale energy markets, aligning them with the regulations in financial markets. In 2024, REMIT was amended  ("REMIT II") to include a definition and Article 5a on algorithmic trading, along with additional reporting obligations. The amendment also requires market participants to retain records of algorithmic trading for five years for potential compliance audits by the authorities.

PowerBot's recommendation is to regularly record the following data:

- All own trades at the exchange + all internal trades (originating from cross-trade recognition)

- All own order revisions at the exchange

- Historical signals and configuration parameters of the algorithm (provided that historization of signals is enabled in the system)

- Historical versions of algorithms

- Audit logs of the PowerBot system (includes documentation of changes to risk limits, access rights etc.)

The PowerBot API allows users to download the necessary data from the relevant API endpoints for historization and record keeping. To simplify compliance efforts, PowerBot offers an optional REMIT Compliance Storage Service. This service automatically exports data to an audit-proof database managed by PowerBot within the AWS Cloud, available at 250 EUR/month (2024) and featuring robust security features, high reliability, automatic backups and redundancy.

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