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Summary of how MiFID II affects commodity traders

Norton Rose have published this useful briefing on how MiFID II will affect commodity traders.

Good article on MiFIR Reporting

See this article on RegTechFS for an interesting look at some of the upcoming issues around reporting under MiFIR/MiFID II. It is not yet clear how this will impact commodity traders, but some of it no doubt will and it is worth being aware of the issues.

MiFID II Questions and Answers from the European Commission

See here for the latest Questions and Answers document from the European Commission on MiFID II. There will be a lot more on this topic as the technical standards emerge.

MiFID II adopted by European Parliament

The European Parliament has voted to adopt the proposed MiFID II rules. A press release can be seen here. This is the latest step in MiFID II coming into force.MiFID II will affect the commodities market in several ways: It reduces the carve outs for commodity traders that exist in the original MiFID It introduces the … Continue reading

ESMA consultation on risk management under EMIR of non cleared OTC derivatives

ESMA today launched a public consultation of the risk management techniques to be applied to non cleared OTC derivatives under EMIR. The focus is on the mandatory use of initial margin in bilateral margining as well as rules about the calculation of variation margin. The overall method is guided by the IOSCO/BIS framework, which can be found … Continue reading

Summary of MiFID II – Position Limits

See here for a quick summary of MiFID II from SJ Berwin. While it points out that many carve outs for commodities traders will remain (although expect this to be a fought over point), the position limit side of things is going to apply to most in the commodities markets.

Notes on REMIT public workshop held on 3rd April

Our notes on the open public workshop held by ACER in Ljubljana last week on the 3rd April can be found here. There were a few surprises, in particular on back loading and UTIs. The notes contain all of the information and also links to the slides.

Latest version of ETR Advisory and ComTech Advisory’s European Commodity Market Regulation report published

Today saw the publication of an update to the European Commodity Market Regulation report published by ETR Advisory and ComTech Advisory. The updated report can be downloaded from here.

ESMA’s TR supervision work plan

ESMA have published their 2014 work plan for supervising trade repositories, which can be downloaded here. In it they talk of their general investigatory plans. But they also talk of the “transition” phase to full operation which they optimistically see as taking “several weeks”. The focus is to include: Client on boarding Inter TR reconciliation … Continue reading