Q&A · ESMA
Intercommodity spread or diff contracts
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
Position limits for cash-settled inter-commodity spread or 'diff' contracts apply to the outright legs, with positions in the spread's disaggregated components counted towards net positions under RTS 21a; where a leg is not itself admitted to trading, the spread gets its own limit based on its open interest, as for C10 derivatives with no physical underlying.
Details
| Reference | ESMA_QA_1282 |
|---|---|
| Issuer | ESMA |
| Published | 23 Sept 2022 |
| Answered | 23 Sept 2022 |
| Submitted | 23 Sept 2022 |
| ESMA topics | Position limits |
| Earlier Q&A document | ESMA70-87294901 Commodity derivatives, Position limits Q&A 17 |
Provisions it relates to
- Article 57 MiFID II · Position limits in commodity derivatives and position management controls in commodity derivatives and derivatives of emission allowancesInferred · 95%
- MiFID II (whole act)Explicit reference