European Commission 1 December 2016, Commission Delegated Regulation (EU) 2017/591 of 1 December 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the application of position limits to commodity derivatives (Text with EEA relevance. )

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European Union · · · Cited by 109 · 01-12-2016

CHAPTER I. GENERAL PROVISIONS
Article 1. Subject matter
Article 2. Definitions
CHAPTER II. METHOD FOR CALCULATING THE SIZE OF THE NET POSITION OF A PERSON
Article 3. Aggregation and netting of positions in a commodity derivative
Article 4. Method of calculating positions for legal entities within a group
Article 5. Same commodity derivatives and significant volumes
Article 6. OTC contracts economically equivalent to commodity derivatives traded on trading venues
Article 7. Positions qualifying as reducing risks directly related to commercial activities
Article 8. Application for the exemption from position limits
CHAPTER III. METHODOLOGY FOR COMPETENT AUTHORITIES TO CALCULATE POSITION LIMITS
SECTION 1. Determination of baseline figures
Article 9. Methodology for determining the baseline figure for spot month limits
Article 10. Deliverable supply
Article 11. Methodology for determining the baseline figure for other months' limits
Article 12. Open interest
Article 13. Methodology for determining the baseline figure in respect of certain contracts
SECTION II. Factors relevant for the calculation of position limits
Article 14. Assessment of factors
Article 15. New and illiquid contracts
Article 16. The maturity of the commodity derivatives contracts
Article 17. Deliverable supply in the underlying commodity
Article 18. The overall open interest
Article 19. The number of market participants
Article 20. Characteristics of the underlying commodity market
Article 21. Volatility of the relevant markets
Article 22. Entry into force and application

31.3.2017

Official Journal of the European Union

L 87/479

COMMISSION DELEGATED REGULATION (EU) 2017/591

of 1 December 2016

supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the application of position limits to commodity derivatives

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

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