EPEX SPOT’s Market Surveillance Office and the way it operates is unique in Europe. It is an independent exchange body that directly reports to the EPEX SPOT Management Board as well as to the Exchange Council. By monitoring all EPEX SPOT markets, it checks that the trading members comply with the EPEX SPOT Market Rules and the Code of Conduct, as well as with relevant European regulation (REMIT), at all times. It also plays a crucial role in interactions with regulatory authorities.
The Market Surveillance Office works with specific market indicators, complemented by deeper investigations when applicable. The Office is entitled to request information from Exchange members, including documents and the beneficiary of a transaction. If a breach of one of our Market Rules is proven, EPEX SPOT has the possibility to decide on a sanctioning procedure, for example membership suspension.
The Market Surveillance department has further built up fruitful relations with EEX Market Surveillance on power markets, as well as with the supervisory authorities and energy regulators in charge of monitoring EPEX SPOT markets. This is illustrated in the diagram below. In addition, the department is continuously involved in discussions on market monitoring at a European level and in the development of a comprehensive and efficient regulatory framework on market abuse in power markets..
