The Market Surveillance Office is an independent exchange body that directly reports to the EPEX SPOT Management Board as well as to the Exchange Council. It continuously monitors the EPEX SPOT markets and checks that members comply with EPEX SPOT Market Rules and the Code of Conduct. The Market Surveillance acts as a central point of contact that cooperates with all the regulatory authorities.
The work is carried out with market indicators and completed by deeper investigations. In case of a suspected breach of market rules, the Market Surveillance is entitled to request information from the exchange members, including documents and the beneficiary of a transaction. In case of a proved breach of market rules, EPEX SPOT SE can decide on a sanctioning procedure (for example membership suspension). Thus, the Market Surveillance plays a significant role in the achievement of a fair and orderly market.
The Market Surveillance department has further built up fruitful relations with the EEX Market Surveillance on power markets, and with the supervisory authorities and energy regulators in charge of monitoring the EPEX SPOT markets, as shown in the diagram below. In addition, the department has been involved in the discussion on market monitoring at a European level (REMIT) and in the pilot project of a central repository of trades.