FESE：2025年FESE对委员会关于商品衍生品市场运作的咨询的回应报告（英文版）

Inefficiencies in the arrangements for reporting of orders, transactions and positions in European energy markets arise from the overlapping and duplicative European regulatory frameworks for financial regulation and energy policy. Gas and power derivatives fall under both regulations for financial instruments (such as EMIR, MiFID/R, MAD/R) and regulations for physical (spot) energy markets (REMIT), creating duplicative and potentially conflicting frameworks for reporting, insider trading and