On 15 December 2020, the European Commission adopted a Delegated Regulation amending Commission Delegated Regulation 2017/565 as regards the thresholds for weekly position reporting.
Article 58(1) of MiFID II provides that trading venues publish a weekly report with the aggregate positions held by different categories of persons in a commodity derivative, emission allowance or emission allowance derivative when both the number of position holders and the size of open position in a specific instrument exceed a minimum threshold. The purpose of this rule is to provide transparency to market stakeholders. Commission Delegated Regulation 2017/565 currently specifies the applicable minimum thresholds. However, since the application of MiFID II, the thresholds in respect of the size of open positions do not appear to have fully delivered on the objective of providing market transparency to stakeholders. Therefore, the Commission proposes to amend the thresholds through this latest Delegated Regulation which follows technical advice from the European Securities and Markets Authority. The Delegated Regulation enters into force on the third day following its publication in the Official Journal of the European Union.