ESMA issued the first badge of position management controls under the Markets in Financial Instruments Directive (MiFID II). MiFID II requires member states to ensure that an investment firm or a market operator operating a trading venue that trades commodity derivatives applies position management controls.
Investment firms or market operators operating trading venues must inform their national competent authorities about the details of position management controls and the national authorities in turn inform ESMA. ESMA will publish and maintain, on its website, a database with summaries of the position management controls. ESMA will update this information based on further notifications by the national competent authorities.
Keywords: Europe, EU, Securities, MiFID II, Position Management Controls, Commodity Derivatives, ESMA
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