Regulatory Alerts2020-08-06
ESMA Opinion on position limits for ICE Endex Italian Power Financial Base contracts
The European Securities and Markets Authority issued an opinion approving the Netherlands Authority for the Financial Markets' proposed position limits for ICE Endex Italian Power Financial Base contracts. ESMA validated the spot month limit of 12% of deliverable supply and the other months' limit of 50% of open interest as compliant with RTS 21 and MiFID II objectives. The regulator emphasized the need for careful monitoring of trading patterns and timely review of the spot month limit to prevent market abuse while supporting market liquidity.
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