ESMA_QA_1274

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1274

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Regulatory Context

Regulation : MIF2

Level 1 Regulation: Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Position limits

Subject Matter: Positions with different maturities

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Question

Submission Date: 23 September 2022

Should positions with different maturities for other months’ limits be netted?

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ESMA Answer

Answer Date: 23-09-2022

[ESMA 70-872942901 Commodity derivatives, Position limits, Q&A 4] Yes. Persons must determine their net position for each commodity derivative for the other months’ limit, as indicated in Article 3 (4-7) of RTS 21a. They should sum (or net, as appropriate) all individual positions across the curve excluding those positions in the spot month for that commodity derivative.

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This document was automatically extracted from the ESMA EMIR Q&A database.