- The RTS includes procedure for position limit exemptions, methods to determine position limit and position management tool for trading venues.
- Under MIFID II Recovery Package, position limits will apply to agricultural commodity derivatives and to critical or significant commodity derivatives defined under Level 1.
- These are derivatives with net open interest above 300,000 lots over one-year period.
- As part of implementation of new framework, ESMA and national competent authorities have agreed on procedure to ensure the convergence in calculation of open interest.
- Also, determination of whether commodity derivative qualifies as critical or significant.