On 23 January 2019, the European Securities and Markets Authority (ESMA) published its opinion on position limits on ICE Low Sulphur Gasoil contracts.

On 9 February 2018, ESMA received a notification from the FCA under Article 57(5) of MiFID II regarding the exact position limits the FCA intends to set for the ICE Low Sulphur Gasoil Futures and Options commodity contract in accordance with RTS 21 and taking into account the factors referred to in Article 57(3) of MiFID II.

It is ESMA’s opinion that the spot month position limit 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 does comply with the methodology established in RTS 21 and is consistent with the objectives of Article 57 of MiFID II.