ESMA · ESMA_QA_1274 Answer Published
Positions with different maturities
- Regulation
- Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
- Topic
- Position limits
- Submitted
- 2022-09-23
- Answered
- 2022-09-23
Question
Should positions with different maturities for other months’ limits be netted?
Answer
[ESMA 70-872942901 Commodity derivatives, Position limits, Q&A 4] Yes. Persons must determine their net position for each commodity derivative for the other months’ limit, as indicated in Article 3 (4-7) of RTS 21a. They should sum (or net, as appropriate) all individual positions across the curve excluding those positions in the spot month for that commodity derivative.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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