Retained EU Law SI 2017/591 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)

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm1 Any Person1

Other Acts binding the same actors

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Financial Services Firm — also bound by 167 other Acts
Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art004 Method of calculating positions for legal entities within a group(Article 57(1) of Directive 2014/65/EU) Regulated
  • Parent undertaking must aggregate group net positions for commodity derivative position limitsAny Person
s.art015 New and illiquid contracts(Article 57(3)(g) of Directive 2014/65/EU) Regulated
  • Trading venue must notify competent authority when commodity derivative open interest thresholds are metFinancial Services Firm
20 other provisions — procedural and definitional
s.art001 Subject matter
s.art002 Definitions
s.art003 Aggregation and netting of positions in a commodity derivative(Article 57(1) of Directive 2014/65/EU)
s.art005 Same commodity derivatives and significant volumes(Article 57(6) of Directive 2014/65/EU)
s.art006 OTC contracts economically equivalent to commodity derivatives traded on trading venues(Article 57(1) of Directive 2014/65/EU)
s.art007 Positions qualifying as reducing risks directly related to commercial activities(Article 57(1) of Directive 2014/65/EU)
s.art008 Application for the exemption from position limits(Article 57(1) of Directive 2014/65/EU)
s.art009 Methodology for determining the baseline figure for spot month limits(Article 57(4) of Directive 2014/65/EU)
s.art010 Deliverable supply(Article 57(3) of Directive 2014/65/EU)
s.art011 Methodology for determining the baseline figure for other months' limits(Article 57(4) of Directive 2014/65/EU)
s.art012 Open interest(Article 57(3) of Directive 2014/65/EU)
s.art013 Methodology for determining the baseline figure in respect of certain contracts(Article 57(4) of Directive 2014/65/EU)
s.art014 Assessment of factors(Article 57(3) of Directive 2014/65/EU)
s.art016 The maturity of the commodity derivatives contracts(Article 57(3)(a) of Directive 2014/65/EU)
s.art017 Deliverable supply in the underlying commodity(Article 57(3)(b) of Directive 2014/65/EU)
s.art018 The overall open interest(Article 57(3)(c) of Directive 2014/65/EU)
s.art019 The number of market participants(Article 57(3)(e) of Directive 2014/65/EU)
s.art020 Characteristics of the underlying commodity market(Article 57(3)(f) of Directive 2014/65/EU)
s.art021 Volatility of the relevant markets(Article 57(3)(d)) of Directive 2014/65/EU)
s.art022 Entry into force and application

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