Regulatory Alerts2021-03-08
ESMA Opinion on position limits for EEX Italian Power Base contracts
The European Securities and Markets Authority (ESMA) issued an opinion assessing revised position limits proposed by the German Federal Financial Supervisory Authority (BaFin) for EEX Italian Power Base Futures and Options. ESMA concluded that the new spot month limit of 14,672,239 MWh and the other months’ limit of 17,930,684 MWh comply with the calculation methodology in RTS 21 and the objectives of MiFID II. The regulator recommended that BaFin carefully monitor trading patterns and review the spot month limit on a timely basis to prevent market abuse.
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