ESMA AGREES POSITION LIMITS UNDER MIFID II

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published three opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR).

ESMA’s opinions agree with the proposed position limits regarding:

• the EEX TTF Gas contract;
• the Nasdaq Oslo Nordic Power contract; and
• the Fish Pool Farmed Salmon contract.

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.