MiFID II introduced the position limits regime with a view to improve the functioning and transparency of financial and commodity markets. This has provided value to the commodities markets, notably with respect to our benchmark contracts (i.e. Milling Wheat, Rapeseed and Corn).
However, there is merit in amending the existing position limits regime to incentivise the creation, and proper functioning, of new nascent commodity contracts.
This position sets out our views on the Commission’s proposals to alleviate the existing position limits regime in the framework of the MiFID II review.
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