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MAR guidelines on commodity derivatives now available in all EU languages

17 January 2017

The European Securities and Markets Authority (ESMA) has issued today the official translations of its final guidelines on commodity derivatives under the Market Abuse Regulation (MAR).

The Guidelines clarify one element of the definition of inside information in relation to commodity derivatives under the Market Abuse Regulation (MAR). The new market abuse regime strengthens the existing market abuse framework. In particular,  with regards to commodity derivatives, MAR is further specifying the definition of inside information.

The guidelines establish a non-exhaustive indicative list of information which is reasonably expected or required to be disclosed in accordance with legal or regulatory provisions in Union or national law, market rules, contract, practice or custom, on the relevant commodity derivatives markets or spot markets. Within two months of the issuance of the different language versions of these guidelines, national competent authority (NCA) will have to confirm whether or not they intend to comply with them. In the event that a NCA does not intend to comply, it will have to inform ESMA, stating its reasons.