ESMA published five opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR).
ESMA’s opinions agree with proposed position limits regarding:
Belgian Power Baseload Futures;
EEX Dutch Power Baseload Futures;
Phelix DEAT OTF Base Futures;
Phelix DE Power Peak Futures; and,
Phelix DEAT Power Peak Futures.
ESMA found that the proposed position limits are consistent with the objectives established in MiFID II and with the methodology developed for setting those limits. ESMA will continue to assess the notifications received and issue opinions in order to ensure that the position limits are set in accordance with the MiFID II framework.
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