ESMA_QA_1524
04/10/2017
Subject Matter
C(10) category and ancillary activity calculations
    How should various underlyings falling under the C(10) category be treated for the purpose of ancillary activity calculations?
    ESMA Answer
    04-10-2017

      [ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 3.11]

      The various commodity derivative underlyings within the scope of the C(10) category shall be treated consistently across all provisions concerning commodity derivatives in the MiFID II/MiFIR framework. Therefore, all those commodity derivative contracts with underlyings that are subject to the position limit regime as specified in Q&A 1277 should also be counting towards the ancillary activity test calculations. Other contracts within the C(10) scope should not be counted.

      Status: Answer Published

      Additional Information

      Level 1 Regulation
      Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
      Topic
      Ancillary activity