REMIT is the abbreviation for ‘Regulation on Wholesale Energy Market Integrity and Transparency’. REMIT, like EMIR, was introduced in the wake of the global economic crisis and is intended to increase the transparency and stability of European wholesale commodity markets, particularly with regard to energy. REMIT aims to prevent ‘insider trading’ and market manipulation. Under REMIT, compliance systems must be put in place to prevent insider trading and market abuse. Furthermore, market participants must report contracts for wholesale energy products to a central body (ACER).