Four Charters
Four Charters
The Charter recognises that professionals in wholesale energy markets fulfil different roles. Each role carries specific responsibilities and requires particular expertise.
To reflect these differences, the Charter defines four (4) professional categories: Market Practitioner, Insider, Deal-maker, and Surveillant.
These categories ensure that professional standards are relevant to the responsibilities of each role within the market.
Chartered Market Practitioner
Chartered Market Practitioners concern any professional who works in (or has a job relating to) the wholesale energy markets, not being an Insider, a Deal-maker, or a Surveillant.
This category may include professionals such as:
- Middle office and back office employees at companies with a trading function
- Employees of clearing organisations
- Legal counsels (e.g. when involved with the setup of power purchase agreements)
Market Practitioners at least need to know market abuse regulations exist and bring along certain prohibition and obligations, and that non-compliance can lead to sanctioning of a company and/or individual.
Chartered Insider
Chartered Insiders are professionals who (in the normal course of their role) have access to inside information, which is relevant to the pricing of wholesale energy products.
This category can include professionals working in areas such as:
- Asset management
- Infrastructure operations & asset dispatch
- Commercial operations
- Board room or executive activities
Because of their potential access to market-sensitive information, these professionals must demonstrate strong awareness of how to distinguish information from inside information, the obligation to disclose inside information, and the prohibition of insider trading.
Chartered Deal-maker
Chartered Deal-makers are responsible for transacting in the wholesale energy markets for sourcing, sales, balancing, or hedging purposes.
Professionals must maintain the knowledge and skills necessary to perform their role responsibly.
This includes understanding:
- How wholesale energy markets function
- The regulatory framework governing the markets
- The risks associated with trading and market participation
Chartered Professionals maintain competence through ongoing professional development.
Chartered Surveillant
Chartered Surveillants are responsible for market monitoring or trade surveillance, thereby safeguarding market integrity.
This category may include professionals working in:
- Trade compliance
- Market monitoring
- Trade surveillance
Their role is to ensure that market activities comply with applicable rules and that potential misconduct is identified and addressed.
A shared professional framework
Although these four categories reflect different roles, they share a common objective: assuring fair, orderly, transparent, and well-functioning wholesale energy markets.
All Chartered Professionals commit to the same core principles of competency, compliancy, integrity and responsibiity.
Frequently Asked Questions
What is the purpose of the Charter’s Code of Conduct?
The Code of Conduct defines the standards of professional behaviour expected from Chartered Professionals working in EU wholesale energy markets. It promotes integrity, professionalism and responsible market participation, helping to strengthen trust and transparency in the markets.
Who must comply with Integrium's Code of Conduct?
All professionals registered under the Charter are required to comply with the Code of Conduct. By registering as Chartered Professional, individuals formally commit to adhering to the principles.
What types of behaviour does the Code of Conduct address?
The Code of Conduct addresses key principles such as integrity, professional competency, and responsible market participation, operation, or facilitation, as well as compliance with applicable laws and regulations. It also emphasises the importance of preventing market abuse and maintaining ethical standards in market-related activities.
What happens if the Code of Conduct is violated?
Failure to comply with the Code of Conduct may lead to disciplinary measures under the Charter framework. Depending on the circumstances, this may include suspension or removal from the Charter registry, ensuring that the standards of the Charter are maintained.