Find public disclosure of inside information as required by the Market Abuse Regulation (MAR) on behalf of BP’s supply and trading legal entities.
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BP Group conducts its global trading activities through a function known as Integrated Supply and Trading (‘IST’). IST has two UK Financial Conduct Authority (‘FCA’) authorised MiFID II* Investment Firms, Britannic Energy Trading Limited (‘BET’) (reference number: 184256) and Britannic Trading Limited (‘BTL’) (reference number: 140459) who only deal with professional clients and eligible counterparties as defined by FCA rules. BET and BTL are required to provide an annual disclosure ‘RTS 28’, regarding execution venues used as well as information regarding the quality of execution received, if applicable.
RTS 28 Annual Best Execution Disclosure 2017
BET and BTL in most cases, transact on an OTC bilateral basis directly as principal rather than executing transactions on a third party venue. The only third party venue used by BET and BTL in 2017 was ICE Futures Europe which is used to execute Block Trades in Commodity derivatives outside the central order book further to specific instructions from clients. Consequently no further detailed qualitative or quantitative analysis is published.
BP Energy Company (“BPEC”) is provisionally registered as a “swap dealer” as defined in Section 1a(49) of the Commodity Exchange Act and CFTC Regulation 1.3(ggg).
In order for BPEC to be able to transact with you, we are requesting that you agree to adhere to ISDA’s August 2012 [and March 2013] Dodd-Frank Protocols (the “Protocol”) , including any addendums to the Protocol relevant to your transactions with us and complete the associated Questionnaire, please see Dodd-Frank Documentation Initiative.
BPEC subscribed to ISDA Amend, a joint service provided by Markit and ISDA, to enable swap dealers and their clients to amend swap documentation using a single online tool. All aspects of the Questionnaire are now available online at IHS Markit.
BPECs Questionnaire will be available on ISDA Amend, but if you prefer to exchange the Questionnaire directly with us via email, you may submit your questionnaire to FinancialContractsExternal@uk.bp.com.
Please note that BPEC expects to subscribe to additional ISDA protocols that are currently in the process of being finalized. Accordingly, BPEC may ask you to adhere to those additional protocols in the future so that we can continue to transact with you. We will keep you updated on these additional ISDA protocols and provide you with any related documentation that we believe requires your attention or completion.
In connection with certain CFTC regulations applicable to swap dealers, upon BPEC’s registration as a swap dealer, BPEC will be providing a daily mark to all of its non-swap dealer, non-security-based swap dealer, non-major security-based swap participant and non-major swap participant counterparties for non-cleared swap(s) and security-based swap(s) existing with such parties, for the duration of such swap(s).
BPEC has a customer portal whereby it will provide such daily marks. BP Customer Portal is password restricted and your account must be set up in order to view your reports. Therefore, if you currently do not have access to the BP Customer Portal, please request access.
With respect to cleared swaps, we will not be providing you with a daily mark, however, upon your request, you have the right to receive the daily mark from the relevant derivatives clearing organization.
Phone: +1 713 323 0911
BP Energy Company (“BP”) adopts the Code of Conduct below for persons engaged on BP’s behalf or on behalf of any of BP’s affiliates in natural gas sale for resale transactions and for voluntarily submitting energy pricing data to appropriate trade publications.