The European Securities and Markets Authority (ESMA) has published an opinion on position limits on ICE Brent Crude contracts.

The opinion follows a notification ESMA received from the FCA under Article 57(5) of MiFID II regarding the exact position limits the FCA intends to set for the ICE Brent Crude commodity futures and options contracts in accordance with the methodology for calculation established in Commission Delegated Regulation (EU) No. 2017/591 (RTS 21) and taking into account the factors referred to in Article 57(3) of MiFID II.

In its opinion, ESMA concludes that the spot month position limit put forward by the FCA on ICE Brent Crude contracts does comply with the methodology established in RTS 21 and is consistent with the objectives of Article 57 of MiFID II. The other months’ position limit put forward by the FCA on ICE Brent Crude contracts also complies with the methodology established in RTS 21 and is consistent with the objectives of Article 57 of MiFID II.

View ESMA agrees MiFID II position limits on ICE Brent Crude contracts proposed by FCA, 15 December 2017