ESMA_QA_2439
Topic
Position reporting
13/02/2025
Subject Matter
Q&A on open interest thresholds in energy derivatives
Question
How do open interest thresholds that are denominated in lots such as in Article 83(1)(b) of CDR 2017/565 (10,000 lots) and in Article 57(1) of MiFID II (300,000 lots) translate into underlying units of energy derivatives such as Megawatt Hour (MWh), million British Thermal Units (MMBTU), or Therms (therm)?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_2438
Topic
Best Execution
12/02/2025
Subject Matter
Multiple offers
Question
Can a project owner seek funding for its project through both a crowdfunding offer and an offer to the public of transferable securities which is not a crowdfunding offer?
Level 1 Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
ESMA_QA_2437
Topic
Suitability
12/02/2025
Subject Matter
Scope of the ECSPR - Calculation of threshold in point (c) of Article 1(2) of ECSPR
Question
How should the threshold laid down in point (c) of Article 1(2) of ECSPR be calculated?
Level 1 Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
ESMA_QA_2436
Topic
Non-equity transparency
12/02/2025
Subject Matter
Legal qualification of Financial Transmission Rights under MiFID II
Question
Do Financial Transmission Rights referred to in the Forward Capacity Allocation Regulation (Commission Regulation 2016/1719) qualify as financial instruments under Annex I, Section C of MiFID II (Directive 2014/65/EU)?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_2435
Topic
Register of information
10/02/2025
Subject Matter
Register of Information at consolidated level
Question
A Group contains within it both insurance entities and banking entities; for the purposes of preparing the Register at a consolidated level, must it consider both types of Entity? To which Authority is the Register sent at a consolidated level?
Level 1 Regulation
Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA)