Method of calculating positions for legal entities within a group(Article 57(1) of Directive 2014/65/EU)
- Parent undertaking must aggregate group net positions for commodity derivative position limits
Retained EU Law
2017
United Kingdom
Commission Delegated Regulation (EU) 2017/591 of 1 December 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the application of position limits to commodity derivatives (Text with EEA relevance)
At a glance
What's here
2 compliance obligations
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
New and illiquid contracts(Article 57(3)(g) of Directive 2014/65/EU)
- Trading venue must notify competent authority when commodity derivative open interest thresholds are met
Browse 20 other sections — procedural / definitional / commencement
Subject matter
Definitions
Aggregation and netting of positions in a commodity derivative(Article 57(1) of Directive 2014/65/EU)
Same commodity derivatives and significant volumes(Article 57(6) of Directive 2014/65/EU)
OTC contracts economically equivalent to commodity derivatives traded on trading venues(Article 57(1) of Directive 2014/65/EU)
Positions qualifying as reducing risks directly related to commercial activities(Article 57(1) of Directive 2014/65/EU)
Application for the exemption from position limits(Article 57(1) of Directive 2014/65/EU)
Methodology for determining the baseline figure for spot month limits(Article 57(4) of Directive 2014/65/EU)
Deliverable supply(Article 57(3) of Directive 2014/65/EU)
Methodology for determining the baseline figure for other months' limits(Article 57(4) of Directive 2014/65/EU)
Open interest(Article 57(3) of Directive 2014/65/EU)
Methodology for determining the baseline figure in respect of certain contracts(Article 57(4) of Directive 2014/65/EU)
Assessment of factors(Article 57(3) of Directive 2014/65/EU)
The maturity of the commodity derivatives contracts(Article 57(3)(a) of Directive 2014/65/EU)
Deliverable supply in the underlying commodity(Article 57(3)(b) of Directive 2014/65/EU)
The overall open interest(Article 57(3)(c) of Directive 2014/65/EU)
The number of market participants(Article 57(3)(e) of Directive 2014/65/EU)
Characteristics of the underlying commodity market(Article 57(3)(f) of Directive 2014/65/EU)
Volatility of the relevant markets(Article 57(3)(d)) of Directive 2014/65/EU)
Entry into force and application
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