Regulatory Alerts2020-08-06
ESMA Opinion on position limits for EEX NCG Natural Gas contracts
The European Securities and Markets Authority (ESMA) issued an opinion assessing the compatibility of position limits set by the German Federal Financial Supervisory Authority (BaFin) for EEX NCG Natural Gas futures. ESMA approved the spot month limit of 29,511,000 MWh and the other months limit of 14,182,031 MWh, confirming they comply with RTS 21 methodology and MiFID II objectives. The regulator recommended that BaFin carefully monitor trading patterns and review the spot month limit to prevent market abuse while ensuring orderly settlement.
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