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The European Securities and Markets Authority (ESMA) has published today seven opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR).
ESMA’s opinions agree with proposed position limits for:
- ICE Endex PSV natural gas
- Powernext PSV natural gas
- Powernext CEGH-VTP natural gas
- Powernext GPL natural gas
- Powernext NCG natural gas
- Powernext PEG natural gas
- EEX PXE Hungarian Power Baseload
ESMA found that the proposed position limits are consistent with the objectives established in MiFID II and with the methodology developed for setting those limits. ESMA will continue to assess the notifications received and issue opinions in order to ensure that the position limits are set in accordance with the MiFID II framework.
