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Tuesday 16 June, 2020

Financial Conduct

June '20 update of some commodity position limits

RNS Number : 0797Q
Financial Conduct Authority
16 June 2020
 

June 2020 update of position limits for some commodity derivative contracts

The Financial Conduct Authority (FCA) has today published updated position limits for certain commodity derivative contracts traded on ICE Futures Europe. The limits have been established under the Markets in Financial Instruments Regulations 2017 (MIFI Regs).

The limits are being revised in accordance with RTS 21, which states that position limits should be reviewed when there is a significant change in OI, deliverable supply, or any other significant change in the market.

Increases to limits (AEB, AEO, SMT and STB contracts) will apply immediately.

For decreases to limits, including where limits were previously To Be Announced 'TBA', we give two months' notice before the revised limits come into force to enable market participants to adjust their trading strategies in a responsible way. These decreased limits (SMD contract) will apply from 17 August 2020.

These limits are published in advance of the publication of ESMA Opinions on the limits, and may change in light of an ESMA opinion, or in the event that we decide it is necessary. This is in accordance with the statements of ESMA and of the FCA published on 28 September 2017.

The following table sets out the affected contracts and the revised limits:







Contract

Product code

Previous Spot Month limit

Previous Other Months' limit

Revised Spot Month limit

Revised Other Months' limit

Argus Euro-bob Oxy FOB Rotterdam Barges vs Brent 1st Line Future (in Bbls)

AEB

 12,950 lots 

 16,150 lots 

 12,950 lots

 23,850 lots

Argus Euro-Bob Oxy FOB Rotterdam Barges Future

AEO

 4,750 lots 

 4,000 lots 

 4,750 lots

 6,450 lots

Gasoline Diff - Singapore Mogas 95 Unleaded vs Singapore Mogas 92 Unleaded Future

SMD

 TBA

 TBA

 6,050 lots

 6,050 lots

Gasoline - Singapore Mogas 92 Unleaded (Platts) Future

SMT

 41,050 lots

 33,900 lots

 41,050 lots

 39,400 lots

Singapore Mogas 92 Unleaded vs Brent 1st Line Future

STB

 20,100 lots

 20,100 lots

 25,350 lots

 25,350 lots

Full details  of the commodity derivative contracts and the limits set on positions in them.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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