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Mifid

Call for transitional period for MiFID II commodity derivatives rules

See here for a posting by Nathaniel Lalone of Katten Muchin Rosenman LLP on the Lexology web site referring to a call by the FIA for a delay to the start of the commodity derivatives regime under MiFID II. The post refers to an article on the Risk.Net web site which can be found here (pay wall).

The post refers to the fact that data from 2015, 2016 and 2017 is required in order to calculate the results of the Ancillary Activity test. This means that in order to make an exemption filing by 3rd January 2018, as alluded to in the relevant FCA documentation (see here), it is necessary to make inferences.

There are still many questions outstanding on both RTS 20 (Ancillary Activity) and RTS 21 (position limits) which have not yet been addressed by the relevant Q+A document (see here).

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy 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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