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Regulatory disclosures

REMIT
From 1st Jan 2017 all REMIT disclosures from BP will be published at remit.bp.com.
MAR (Market Abuse Regulation)

Find public disclosure of inside information as required by the Market Abuse Regulation (MAR) on behalf of BP’s supply and trading legal entities.

 

For information on BP plc, please refer to regulatory news service.

MiFID II

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. 

 

* EU Regulation 2017/565 implementing Directive 2014/65/EU (MiFID II)
Capital Requirements Directive (CRD)
Find public disclosure of Pillar 3 disclosure requirements, including information on remuneration, required by the Capital Requirements Directive (CRD) on behalf of BP’s supply and trading legal entities. For the BP plc Directors remuneration report please see the Annual Report.
SWAP Disclosures
Please find below the ISDA General Disclosure Statement and ISDA Commodities Derivatives Disclosure Annex published by the International Swaps and Derivatives Association, Inc. (“ISDA”). These disclosures will apply to all standard Transactions, as defined in the ISDA General Disclosure Statement and ISDA Commodities Derivatives Disclosure, between you and BP Energy Company. You can also find the current ISDA disclosures by visiting International Swaps and Derivatives Association, Inc. (“ISDA”).

Disclaimer by ISDA

 

(a) In no event may any copyright or trademark notice from the International Swaps and Derivatives Association, Inc. ('ISDA') be removed; and (b) this instrument's use should be undertaken only after securing appropriate legal advice on its provisions and ISDA makes no warranty or assurance, express or implied, concerning this instrument's suitability for use in any particular transaction and bears no responsibility or liability whatsoever, whether in tort or in contract, in respect of any use of this instrument.
 
In general, ISDA documents are protected by federal copyright law and international copyright treaties. The unauthorized reproduction and/or distribution of copyrighted documents may violate U.S. copyright law and international agreements. Violations may be punishable by statutory fines of up to $150,000 and other severe civil and/or criminal penalties. Please click here for the 'Memorandum on Frequently Asked Questions on Copyright'. Contact the ISDA Legal Department at isda@isda.org or 212-901-6000 for more information if you have any questions.
ISDA Dodd-Frank Protocol

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.

Post-Trade Daily Mark Access Information

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 provide us with the listed information below as soon as possible so to begin the set up process. To access your reports on the BP Customer Portal please use www.mybpenergy.com.

 

Please provide the below information to BPsupport2@bp.com:

  • Legal entity name
  • Name of user
  • Job Title
  • User e-mail address
  • Date of request
  • Full name of BP your Marketer/Originator

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.

 

Complaints

Email: BPEnergyNotice@bp.com

Phone: +1 713 323 0911

Code of Conduct for Reporting Natural Gas Transactions

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.