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🔗 Back to Summary. 🇫🇷 French Version: 2022R1302_FR.19. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 18 – Deliverable supply in the underlying commodity ⬅️ | ➡️ Article 20 – The number of market participants
Article 19 - The overall open interest
1.
Where there is a large volume of overall open interest, competent authorities shall adjust the position limit downwards.
2.
Where the open interest is significantly higher than the deliverable supply, competent authorities shall adjust the other months’ position limit downwards.
3.
Where the open interest is significantly lower than the deliverable supply, competent authorities shall adjust the other months’ position limit upwards and, except where the baseline figure for the spot month limit is based on the open interest, shall adjust the spot month position limit downwards.