Tag Archives: position limits

ESMA MiFID II Position Limits

On 30 April 2019, EU ESMA issued 5 commodity derivative position limits opinions. ESMA agreed with the proposed MiFID II position limits regarding Belgian Power Baseload Futures, EEX Dutch Power Baseload Futures, and Phelix DEAT OTF Base Futures, Phelix DE Power Peak Futures, and also Phelix DEAT Power Peak Futures.  
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U.S. – NYMEX CS Position Limit Breach

On 31 January 2019, NYMEX fined Credit Suisse for position limit breach. Settlement with Credit Suisse International (CSI) at a hearing on Jan. 29, 2019.AllegationsOn May 30, 2018, NYMEX notified CSI, it held futures-equivalent short position of 239 MGEX June 2018 Palladium futures (JUN18 PA) contracts, and a position limit of 50 JUN18 PA contracts…
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E.U. – ESMA MiFID II Position Limits

On 23 January 2019, ESMA issued commodity position limits under MiFID II. ESMA has published 6 opinions on position limits regarding commodity derivatives.Opinions agreed proposed position limits for Low Sulphur gasoil, Panamax Freight, Dutch TTF ICE Endex, Dutch TTF Powernext, Dutch Power Base, Dutch Power Peak.ESMA found that these proposed position limits are consistent with…
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U.S. – CFTC Position Aggregation Relief

On 15 November 2018, CFTC issued relief from aggregation of positions. Master fund, holding company, and the only four persons with greater than 10% interest request relief from position aggregation requirement in CFTC Reg 150.4. Relief Provided Time limited relief for aggregation exemptions even if firewalls are not in place. Information only for currency hedging,…
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