AMSTERDAM/BRUSSELS/LONDON, 28 January 2015
Power spot and clearing exchange APX today announces the signing of a Memorandum of Understanding (MoU) with the Dutch energy regulator Autoriteit Consument & Market (ACM).
Signing of the MoU reaffirms and formalises the agreements in place between APX and ACM for the mutual work under REMIT Article 13 and 15.
APX and ACM have an exchange of their knowledge, experiences and expertise on best practices on market surveillance. This will enable them to detect and investigate potential market manipulation and insider trading. The MoU outlines procedures and practices for the cooperation. It does not replace nor create additional obligations than those arising from REMIT or national electricity regulation. The cooperation will not restrict, extend or alter the existing powers, functions or duties of APX or ACM but rather strengthen the current understanding of the cooperation between both parties.
René Kerkmeester, CEO of APX, says: “APX is dedicated to operate robust and transparent markets. The formalisation of our cooperation with ACM will enhance our existing procedures and sharing of the best practices, ensuring that we continue operating an integer and transparent wholesale market in the Netherlands also in the future”.