Regulatory Alerts2023-05-03
ESMA Opinion on position limits for RAPESEED contracts
The European Securities and Markets Authority (ESMA) issued an opinion assessing the position limits proposed by the French Autorité des Marchés Financiers (AMF) for rapeseed commodity derivative contracts. ESMA concluded that the new limits, which vary by spot and other months based on deliverable supply and open interest, comply with the calculation methodology in RTS 21a and support the objectives of preventing market abuse under MiFID II. The opinion confirms that the limits achieve a reasonable balance between preventing dominant positions and ensuring orderly market settlement.
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