Regulatory Alerts2019-09-24
ESMA Opinion on Position Limits for EEX Italian Power Peak Futures
ESMA issued an opinion approving BaFin's proposed position limits for EEX Italian Power Peak Futures contracts, setting the spot month limit at 15% of deliverable supply and the other months' limit at 31% of open interest. The regulator confirmed that these adjusted limits comply with the calculation methodology in RTS 21 and the market abuse prevention objectives of MiFID II. ESMA recommended that BaFin carefully monitor trading patterns and review the spot month limit to ensure market integrity is maintained.
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