On 20 April 2022, the European Commission adopted a Delegated Regulation supplementing MiFID II with regard to regulatory technical standards (RTS) for the application of position limits to commodity derivatives and procedures for applying for exemption from position limits together with an annex.

When finalised, the Delegated Regulation will replace Commission Delegated Regulation 2017/591 (‘RTS 21’) which sets out the standard methodology that should be used by Member State national competent authorities in order to calculate and apply position limits in a harmonised way across commodity derivatives traded on trading venues and economically equivalent over-the-counter contracts.

The Delegated Regulation enters into force on the twentieth day following that of its publication in the Official Journal of the European Union.