European Securities Market Authority has published a final report on proposed amendments to certain MiFID II technical standards in relation to commodity derivatives in response to amendments introduced by the MiFID II review. The final report details the proposed changes to Commission Delegated Regulation (EU) 2022/1299 (RTS on position management controls), Commission Implementing Regulation (EU) 2017/1093 (ITS 4), and Article 83 on position reporting in Commission Delegated Regulation (EU) 2017/565.
Changes relating to commodity derivatives introduced by the MiFID Review include: (i) extending position management controls to trading venues which trade derivatives on emission allowances; (ii) amending the scope of position reporting by excluding emission allowances; and (iii) introducing a new obligation to publish a second weekly position report for trading venues trading options.
The final report has been submitted to the European Commission, which has three months to decide whether to endorse the proposed amendments to the technical standards.
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