ESMA has published the responses received to their “call for evidence” on the MiFID II position limits regime. They can be found here. The call for evidence, which can be found here, asked for input into the effectiveness of the regime that started with MiFID II on 3 January 2018.

Several industry associations (FIA, ISDA and GMFA) published their joint response earlier. This response can be found here. It looks at several topics:

• The application of limits to new and illiquid contracts
• The scope of contracts covered by limits
• The scope of the hedging exemption

as well as covering other areas.