ESMA supports position limits for TTF gas futures
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published an Opinion on the proposed position limits for the ICE Endex Dutch Title Transfer Facility (TTF) Gas contracts.
ESMA agrees with the position limits notified by the Dutch Authority for the Financial Markets (AFM) for the ICE Endex Dutch TTF Gas futures and options contracts. ESMA found that those limits are consistent with the objectives established in MiFID II and with the methodology developed for setting the limits.
The proposed position limits are based on the most recent available data for deliverable supply and open interest to reflect the latest market developments in the ICE Endex Dutch TTF gas contracts, including the sharp decrease in delivery of Russian gas to the EU.
Next steps
In the Opinion, ESMA invites the AFM to closely monitor developments in the ICE Endex Dutch TTF contracts and to resubmit position limits on a timely basis in case of any relevant changes to deliverable supply or open interest.
Further information:
Dan Nacu-Manole
Communications Officer
✆ +33 (0)1 58 36 52 06