Regulatory Alerts2026-02-09
ESMA Opinion on Position Limits for EEX German Power Base Contracts
The European Securities and Markets Authority (ESMA) issued an opinion approving the position limits proposed by the German Federal Financial Supervisory Authority (BaFin) for EEX German Power Base contracts. ESMA confirmed that the spot month limit of 21,000,000 MWh and the other months' limit of 52,000,000 MWh comply with the calculation methodology in RTS 21a and the objectives of MiFID II. The regulator invited BaFin to continuously monitor market developments and notify ESMA of any changes warranting a revision of these limits.
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