REMIT is the abbreviation for "Regulation on Wholesale Energy Market Integrity and Transparency". Like EMIR, REMIT was introduced in the wake of the global economic crisis and is intended to increase the transparency and stability of the European wholesale markets for commodities, particularly in relation to energy. REMIT aims to prevent "insider trading" and market manipulation. On the one hand, REMIT requires compliance systems to be set up to prevent insider trading and market abuse. On the other hand, market participants must report contracts for wholesale energy products to a central body (ACER).