ESMA_QA_1534

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1534

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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 reporting

Subject Matter: Position reporting

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Question

Submission Date: 13 November 2017

Should an investment firm acting as broker and using a matched principal model be subject to position reporting?

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ESMA Answer

Answer Date: 13-11-2017

[ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 4.12] Yes. Any investment firm trading in commodity derivatives contracts traded on a trading venue or in EEOTC contracts is subject to position reporting and should provide a complete breakdown of positions held on own account and on behalf of clients as the investment firm can end up holding a position even if trading on a matched principal basis. It is the investment firm’s responsibility to assess whether the transaction executed results in a change in the positions held on own account and/or on behalf of clients.

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