Regulatory Alerts2021-03-08
ESMA Opinion on position limits for EEX Spanish Power Base contracts
The European Securities and Markets Authority (ESMA) issued an opinion approving the Federal Financial Supervisory Authority (BaFin)'s revised position limits for EEX Spanish Power Futures and Options. ESMA confirmed that the new spot month limit of 8,208,692 MWh and the other months' limit of 11,793,135 MWh comply with the calculation methodology in RTS 21 and the objectives of MiFID II. The regulator emphasized that BaFin must carefully monitor trading patterns and review the spot month limit timely to prevent market abuse while ensuring orderly market conditions.
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