On 10 July 2020, the European Securities and Markets (ESMA) updated its opinion on ancillary activity calculations. The opinion provides the estimation of the market size of commodity derivatives and emission allowances for 2019.

Determining market size figures is challenging for national competent authorities (NCAs) and market participants since there is no centralised recording of on-venue and off-venue transactions for commodity derivatives and emission allowances, which are publicly available. NCAs and market participants have asked ESMA to provide guidance for the determination of the market size figures to ensure the correct application of Article 2(3) of the Commission Delegated Regulation (EU) 2017/592 of 1 December 2016.