In general, these terms refer to positions, transactions and markets for physical commodity derivatives or physical commodity markets that are somehow linked or tied economically to the position in the regulated commodity derivatives market.
• Related positions could be deemed to include a futures contract and physical commodity OTC derivatives contract that reference the same commodity; a futures contract that settles off of the price of another futures contract; a futures contract and a physical commodity position for the same commodity; a futures contract and an “economically equivalent” physical commodity contract. The determination of what constitutes a “related position” is left to the discretion of the relevant Market Authority