The European Securities and Markets Authority has published an updated Q&A on MiFID II and MiFIR commodity derivatives topics. This update includes answers to the following questions:

  • How should the spot month be defined for contracts where there are daily, weekly, quarterly and calendar as well as monthly variants of the same contract?
  • Where there is a chain of investment firms that have to comply with commodity position reporting obligations, who has to report to the trading venue or national competent authority?
  • How should clients of investment firms inform their intermediaries of the nature of each of their positions (hedge or speculation)? Should that information be provided for each position or could clients indicate to their intermediaries that, except if they explain otherwise, all their positions should be deemed for hedging or non-hedging purposes?
  • How is the position quantity field reported for contracts that relate to delivery of the same underlying over different periods of time?
  • How should the position in the spot month and other months be reported for contracts where there are daily or weekly as well as monthly contracts?

View ESMA updates Q&As on MiFID II and MiFIR commodity derivatives, 15 December 2017

Leave a Reply

Your email address will not be published. Required fields are marked *