The energy and commodity markets have for several months been awaiting the finalised version of Regulatory Technical Standards(RTS) 20 and 21, which provide rules for the calculations around the Ancillary Activity test and Position Limits. This post on the ICIS Regulation Portal provides some news of when the European Commission will release the next version, which will then be subject to the scrutiny of the Parliament and Council.
In an interview with Markus Ferber MEP, it is revealed that the current delay is due to negotiations taking place between the Commission, Parliament and Council over the contents, so that the scrutiny period is passed successfully. This approach will ensure that the documents are not rejected, which would cause an even longer delay.
This post on Baringa’s web site by Shane Henley examines some issues arising out of the late finalisation of the RTS’s, especially given the time taken for an entity to gain authorisation as a regulated entity.
The market eagerly awaits these final versions.