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New position limits opinions from ESMA

ESMA yesterday issued further opinion documents on position limits already set by National Competent Authorities(NCAs) under MiFID II. This follows the publication of opinions in March (see here).

Each opinion has confirmed the limit at the level originality set. The documents explain the rationale for each limit, how the deliverable supply has been calculated and how spot month is established. The opinions can be found as follows:

  • Belgian Baseload Power Futures (here)
  • Dutch Baseload Power Futures (here)
  • Phelix DEAT Baseload Futures (here)
  • Phelix DEAT Peak Futures (here)

The list of limits about which opinions have been issued, together with links, can be found here.

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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