Regulatory Alerts2020-09-23
ESMA Opinion on position limits for EEX TTF gas contracts
The European Securities and Markets Authority issued an opinion confirming that BaFin's position limits for EEX TTF gas futures and options comply with MiFID II and RTS 21. The spot month limit is set at 52,466,250 MWh, representing 25% of the deliverable supply, while the limit for other months is 112,196,688 MWh, calculated as 20% of open interest. ESMA validated these figures as consistent with regulatory methodologies and necessary to prevent market abuse while maintaining orderly market conditions.
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