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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)RecitalsChapter I General provisions (arts. -3-2)Article -3 DefinitionsArticle -2 ApplicationArticle -1 InterpretationArticle 1 Subject matterArticle 2 DefinitionsChapter 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 applicationDone at
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Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Version date: 31 December 2020 - 5 July 2026
Version 2 of 3

Article 12 Open interest (Article 57(3) of Directive 2014/65/EU)

The competent authority shall calculate the open interest in a commodity derivative by aggregating the number of lots of that commodity derivative that are outstanding on trading venues at a point in time.

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