ESMA publishes opinion for 2019 ancillary activity test market sizes
On Friday, ESMA published an update of the opinion document for market sizes to be used as part of the ancillary activity test, adding estimated market sizes for the year…
ESMA updates opinion on position limits with respect to third country positions
Last week ESMA updated the opinion document on determining third-country trading venues for the purpose of position limits under MiFID II. The new document can be found here. The document…
New book available
A new book by Aviv Handler on the rules covered by this blog is now available from the publisher, Risk Books. The book is titled "Navigating European Energy and Commodity…
ESMA report on MiFID II commodity derivatives regime – possible changes
ESMA has released this report summarising the responses received from the recent consultation focused on the MiFID II position limits regime (see here). The report also addresses some other topics…
FCA’s Call for Input on accessing and using wholesale data
Last week the UK's Financial Conduct Authority(FCA) released this Call for Input(CFI) on "Accessing and using wholesale data". The CFI covers: Trading data Benchmarks Market data vendor services The CFI…
ESMA report – Coal and oil derivatives/C6
Earlier this week, ESMA published this report, which was submitted to the European Commission a few weeks ago. It provides a recommendation as to whether to extend the exemption for…
MiFID II consultation – commodity derivatives topics
Yesterday the European Commission opened a consultation on certain aspects of MiFID II and MiFIR. The document can be found here. The consultation includes aspects relevant to energy and commodity…
MiFID II position limits opinions published by ESMA
On Friday ESMA published a set of opinions on MiFID II position limits that have been submitted to them by National Competent Authorities (NCA). The process under MiFID is for…
Commodity derivatives pre trade transparency rules under MiFIR, Brexit
Yesterday, ESMA published this statement, providing an update on the matter of financial trading venues' compliance with the MiFIR pre-trade transparency rules. This follows a briefing published in June that…
CFTC proposes position limits rules
Last Thursday the CFTC unveiled the latest and possibly final proposal for mandatory position limits on certain commodity derivative contracts. This is the latest version of the rules which formed…