ESMA_QA_1524

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1524

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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: Ancillary activity

Subject Matter: C(10) category and ancillary activity calculations

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Question

Submission Date: 04 October 2017

How should various underlyings falling under the C(10) category be treated for the purpose of ancillary activity calculations?

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ESMA Answer

Answer Date: 04-10-2017

[ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 3.11] The various commodity derivative underlyings within the scope of the C(10) category shall be treated consistently across all provisions concerning commodity derivatives in the MiFID II/MiFIR framework. Therefore, all those commodity derivative contracts with underlyings that are subject to the position limit regime as specified in Q&A 1277 should also be counting towards the ancillary activity test calculations. Other contracts within the C(10) scope should not be counted.

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