Spain – CNMV Commodity Position Limit

Spain – CNMV Commodity Position Limit

On 26 December, CNMV issued position limit on commodity derivatives.

  • Maximum positions a holder can take in the derivative contracts on raw materials.
  • Using methodology in Chapter III of EU December 2016 position regulation.

CNMV Limits

  • Listed the maximum net position in warrants on commodities traded on exchange.
  • Gold, silver and Brent oil, as traded on the Stock Exchanges: 2.5 million warrants.
  • Wind power electricity contracts, from MEFF Exchange: is 60,000 Megawatt hours.
  • Electricity contracts for peak load from MEFF Exchange: 660,000 Megawatt hours.
  • Base load, next due date: 12.5 Terawatt hour; remaining maturities: 5.0 TW hour.