Regulatory Alerts2023-05-03
ESMA Opinion on position limits for CORN 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 corn commodity contracts traded on Euronext Paris. ESMA concluded that the new limits, which vary by contract month and proximity to expiry, comply with the calculation methodology established in RTS 21a and are consistent with the market abuse prevention objectives of MiFID II. The opinion confirms that these limits strike a reasonable balance between preventing dominant positions and ensuring orderly market settlement.
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