Standardised contract definition
Standardised contract means a contract admitted to trading at an organised market place or TSO auction platform or subject to a standard agreement;
Standardised contract generally means a contract admitted to trading at an organised market place and subject to a standard framework energy trading agreement. While the concepts “standardised contract” and “non-standardised contract” generally convey what market participants understand these to be currently, we all know that due to various regulatory initiatives (e.g. EMIR), there is a “sliding scale” between these two categories and whereby there will be a tendency towards standardisation. Hence the content of both concepts is highly likely to evolve over time, and yet many sections of the consultation make an important distinction (e.g. in reporting content, timing, channel…) between both categories. It is key that ACER monitor the evolution of this “sliding scale” and keep all market participants informed (and to consult them on a regular basis) as to is judgment to which category any tradable instrument belong, in order to avoid “erroneous” reporting.
Standardised contract means a contract that complies with the formal requirements applying on a financial market to a contract of the kind in question and in respect of which dealings take place on that market;