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Wednesday 15 November, 2017

Financial Conduct

FCA position limitscommodity derivative contracts

RNS Number : 5444W
Financial Conduct Authority
15 November 2017
 

FCA publishes position limits for commodity derivative contracts

The Financial Conduct Authority (FCA) has today published a further set of position limits on certain commodity derivative contracts which are traded on UK trading venues. The limits have been established by exercising our power of direction under Regulation 16 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (MIFI Regs) in accordance with Art. 57 of MiFID II and the methodology set out in RTS 21. The limits will apply from 3 January 2018 to positions held in the Spot Month and the Other Months' periods for each commodity derivative.

These limits have been set in accordance with the methodology set out in RTS 21 and published in advance of the publication of ESMA Opinions on the limits.  These limits may change in light of an ESMA opinion, or in the event that we decide it is necessary to do so. This is in accordance with the statements of ESMA and of the FCA published on 28 September 2017.

The FCA has updated the position limits for Dated Brent which we initially published on 26 October. This is to reflect the aggregation of this contract with the daily Dated Brent contract (which has the same underlying), inclusion in the definition of Brent oil of the Troll oilfield from January 2018, and inclusion of stock data.

Further details of the commodity derivative contracts and the limits set on positions in them can be found at https://www.fca.org.uk/markets/mifid-ii/commodity-derivatives/position-limits


This information is provided by RNS
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