Regulatory Alerts2020-08-06
ESMA Opinion on Position Limits for EEX GPL Natural Gas Contracts
The European Securities and Markets Authority (ESMA) issued an opinion approving position limits set by the German Federal Financial Supervisory Authority (BaFin) for Gaspool natural gas futures traded on the European Energy Exchange. ESMA validated the spot month limit of 15% of deliverable supply and the other months limit of 35% of open interest as compliant with MiFID II and RTS 21 methodologies. The regulator emphasized the need for continued monitoring of trading patterns and timely reviews to ensure market integrity and prevent abuse.
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