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Position limit consultation responses published

ESMA has published the responses received to the consultation recently run on the MiFID II  position limit regime (see here). The responses can be found here. Some organisations such as CEER have already published their responses (see here) as well as the FIA (see here) . The consultation suggests several changes to the regime, including … Continue reading

REMIT fine announced in Lithuania

The National Energy Regulatory Council of Lithuania (NERC), the National  has just announced that  UAB Geros dujos has been fined EUR 28,583, which corresponds to 7.5% of annual revenue, for “marking the close” in the Lithuanian gas market. The press release is here. According to this decision notice, the fine relates to activity in the first … Continue reading

ACER to tighten REMIT reporting validation rules

Last week ACER announced here that some of the validation rules relating to reporting will be tightened from 30 June onwards. The change relates to the use of Energy Identifier Codes (EIC), in particular “X” codes that identify entities. The change requires that any such code used is registered in the “CEREMP” database of market … Continue reading

Final SFTR documents published – commodities information

Earlier this week ESMA published a final series of documents relating to the Securities Financing Transaction Reporting regulation (SFTR). The scope of SFTR includes “commodities lending”, which could be taken to include certain activities undertaken by commodity and energy market participants. SFTR covers Non-Financial Counterparties (NFC), as well as Financial Counterparties (FC). Reporting starts in … Continue reading

MiFID II is two years old

It is now exactly two year since “the day of the MiFID” arrived on 3rd January 2018 and MiFID II started to apply (see here). MiFID II brought some significant changes to the financial sector in a wide variety of areas, whose impact has continued to be felt (see here, for example). MiFID II also … Continue reading

Regulation in 2020 – what can we expect?

As in previous years, as  2020 opens, we will dedicate this first post to considering what will keep us busy over the coming months in the regulatory world of energy and commodity trading, focused on Europe. Same themes as last year? Many consider us to now be in the regulatory era of “making it work” … Continue reading