ESMA_QA_1274
23/09/2022
Subject Matter
Positions with different maturities
Original question
Should positions with different maturities for other months’ limits be netted?
ESMA Answer
23-09-2022
Original language
[ESMA 70-872942901 Commodity derivatives, Position limits, Q&A 4]
Yes. Persons must determine their net position for each commodity derivative for the other months’ limit, as indicated in Article 3 (4-7) of RTS 21a.
They should sum (or net, as appropriate) all individual positions across the curve excluding those positions in the spot month for that commodity derivative.
Status: Answer Published
Additional Information
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
Topic
Position limits