Version status: To be revoked | Document consolidation status: Assimilated law updated to reflect all known changes

Published date: 31 March 2017

Commission Delegated Regulation (EU) 2017/591 of 1 December 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the application of position limits to commodity derivatives (RTS 21) (Assimilated Law)

	Recitals
	Chapter I General provisions (arts. -3-2)
	Article -3 Definitions
	Article -2 Application
	Article -1 Interpretation
	Article 1 Subject matter
	Article 2 Definitions
	Chapter II Method for calculating the size of the net position of a person (arts. 3-8)
	Article 3 Aggregation and netting of positions in a commodity derivative (Article 57(1) of Directive 2014/65/EU)
	Article 4 Method of calculating positions for legal entities within a group (Article 57(1) of Directive 2014/65/EU)
	Article 5 Same commodity derivatives and significant volumes (Article 57(6) of Directive 2014/65/EU)
	Article 6 OTC contracts economically equivalent to commodity derivatives traded on trading venues (Article 57(1) of Directive 2014/65/EU)
	Article 7 Positions qualifying as reducing risks directly related to commercial activities (Article 57(1) of Directive 2014/65/EU)
	Article 8 Application for the exemption from position limits(Article 57(1) of Directive 2014/65/EU)
	Chapter III Methodology for the competent authority to calculate position limits (arts. 9-22)
	Section 1 Determination of baseline figures (arts. 9-13)
	Article 9 Methodology for determining the baseline figure for spot month limits (Article 57(4) of Directive 2014/65/EU)
	Article 10 Deliverable supply (Article 57(3) of Directive 2014/65/EU)
	Article 11 Methodology for determining the baseline figure for other months' limits (Article 57(4) of Directive 2014/65/EU)
	Article 12 Open interest (Article 57(3) of Directive 2014/65/EU)
	Article 13 Methodology for determining the baseline figure in respect of certain contracts (Article 57(4) of Directive 2014/65/EU)
	Section II Factors relevant for the calculation of position limits (arts. 14-22)
	Article 14 Assessment of factors (Article 57(3) of Directive 2014/65/EU)
	Article 15 New and illiquid contracts (Article 57(3)(g) of Directive 2014/65/EU)
	Article 16 The maturity of the commodity derivatives contracts (Article 57(3)(a) of Directive 2014/65/EU)
	Article 17 Deliverable supply in the underlying commodity (Article 57(3)(b) of Directive 2014/65/EU)
	Article 18 The overall open interest (Article 57(3)(c) of Directive 2014/65/EU)
	Article 19 The number of market participants (Article 57(3)(e) of Directive 2014/65/EU)
	Article 20 Characteristics of the underlying commodity market (Article 57(3)(f) of Directive 2014/65/EU)
	Article 21 Volatility of the relevant markets (Article 57(3)(d)) of Directive 2014/65/EU)
	Article 22 Entry into force and application
	Done at