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ESMA issues consultation paper on list of commodities information to be published under MAR

ESMA have today issued this consultation paper, which covers the lists of “inside information” relating to commodity derivatives and spot commodities, which must be published under MAR (Market Abuse Regulation).

MAR generally prohibits the use of Inside Information, and contains provisions as to the management of it. Article 7(5) of MAR requires ESMA to establish a “non-exhaustive indicative list of information which is reasonably expected or is required to be disclosed“. This consultation paper is part of the process of establishing the list.

The rules of MAR will be in force from 3rd July 2016. After this date the prohibitions of MAR apply to all on venue activity, and related off venue activity in derivatives and spot commodities. In addition to the inside information and manipulation prohibitions, MAR has a wider effective monitoring requirement than REMIT. Market participants will need to consider how to comply with this requirement as well as the others under this regulation.


About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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