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More MiFID II limits, and some Finfrag news

Finanstilsynet the Norwegian National Competent Authority (NCA) last week adopted the EU position limits rules  as announced here, and set limits for positions in commodity derivatives on  relevant venues, including Nasdaq OMX, which can be found here. Finansinspektionen  the Swedish NCA has also announced limits at the end of November here. This follows limits announcements earlier this … Continue reading

Updated MiFID II position limits

With less than a week to go until MiFID II starts, Spain’s National Competent Authority, the CNMV, has published some position limits for the MEFF exchange which can be found here. ESMA has also updated the master position limits sheet, which can be found here. This follows several over updates over the last few days … Continue reading

One week to go: MiFID II updates and debates

There is one week until the start of MiFID II. ESMA released a few updates in the run up to the holiday, including an revised “market sizes” document relating to the ancillary activity test, which can be found here. The update appears to be a disclaimer at the end relating to EEA and EFTA data … Continue reading

The year winds down, sort of

For many this will be the last working day of the year. However, the wind down is not quite as widespread as usual, given the proximity to the MiFID II deadline, less than two weeks away. With several new pieces of information coming out in the last days, both generally (see here) and related to … Continue reading

Answers, recognition and temporary holds with two weeks to go until MiFID II

With two weeks to go until the start of MiFID II, a great deal of information has been released by ESMA over the past few days. Several updated questions and answers documents have been released following last week’s announcements (see here). These include: Transparency (here) – with updates on topics such as waivers, calculation of … Continue reading

REMIT updates – extended no action relief and updated notification platform

ACER has made two REMIT related announcements over the past few days, following the release of an updated Frequently Asked Questions document on transaction reporting (see here). No action relief for contracts to be “reported on demand” ACER has issued this letter extending the period of “no action relief” on their asking for contracts which … Continue reading

ESMA releases new MiFID II and EAMP information as the clock counts down

As the last full working week before MiFID II starts begins, ESMA has released several new pieces of information, some of which is very relevant to those in energy and commodities. A new version of the commodity derivatives questions and answers document has been released, and can be found here. It contains several important answers … Continue reading

Updated EMIR Q+A released by ESMA

ESMA has released an updated version of the Questions and Answers document on EMIR, which can be found here. There are several updated answers, including: OTC 18b – p35 – on the handling of omnibus accounts in indirect clearing arrangements in the case of a default. TR 31 – p73 – on the reporting of … Continue reading

Emissions Allowance Market Participant requirements

The start of MiFID II on 3rd January 2018 also has an impact on Emissions Allowance Market Participants(EAMP) under MAR. The threshold for an EAMP is defined by MAR Article 17(2) and Delegated Regulation 2016/522,  as a group with over  6 million tonnes of carbon a year or over 2430 MW of rated thermal input … Continue reading

Updated REMIT transaction reporting FAQ published

ACER has published an updated version of the REMIT Transaction reporting Frequently Asked Questions document, which can be found here. New and updated answers have been published on a variety of topics, including how to handle company de-mergers, LNG and field specific answers. The new answers are as follows: Questions 1.1.29 to 1.1.32 on page … Continue reading