# 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 (Text with EEA relevance) (revoked)

EU Regulation 2017/591 · adopted 1 December 2016

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 (Text with EEA relevance)

## Introductory text

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
(Text with EEA relevance) (revoked)
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## Chapter I: GENERAL PROVISIONS

## 1 Subject matter

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## 2 Definitions

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## Chapter II: METHOD FOR CALCULATING THE SIZE OF THE NET POSITION OF A PERSON

## 3 Aggregation and netting of positions in a commodity derivative(Article 57(1) of Directive 2014/65/EU)

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## 4 Method of calculating positions for legal entities within a group(Article 57(1) of Directive 2014/65/EU)

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## 5 Same commodity derivatives and significant volumes(Article 57(6) of Directive 2014/65/EU)

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## 6 OTC contracts economically equivalent to commodity derivatives traded on trading venues(Article 57(1) of Directive 2014/65/EU)

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## 7 Positions qualifying as reducing risks directly related to commercial activities(Article 57(1) of Directive 2014/65/EU)

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## 8 Application for the exemption from position limits(Article 57(1) of Directive 2014/65/EU)

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## Chapter III: METHODOLOGY FOR COMPETENT AUTHORITIES TO CALCULATE POSITION LIMITS

### Section 1: Determination of baseline figures

## 9 Methodology for determining the baseline figure for spot month limits(Article 57(4) of Directive 2014/65/EU)

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## 10 Deliverable supply(Article 57(3) of Directive 2014/65/EU)

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## 11 Methodology for determining the baseline figure for other months' limits(Article 57(4) of Directive 2014/65/EU)

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

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## 13 Methodology for determining the baseline figure in respect of certain contracts(Article 57(4) of Directive 2014/65/EU)

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### Section II: Factors relevant for the calculation of position limits

## 14 Assessment of factors(Article 57(3) of Directive 2014/65/EU)

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## 15 New and illiquid contracts(Article 57(3)(g) of Directive 2014/65/EU)

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## 16 The maturity of the commodity derivatives contracts(Article 57(3)(a) of Directive 2014/65/EU)

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## 17 Deliverable supply in the underlying commodity(Article 57(3)(b) of Directive 2014/65/EU)

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## 18 The overall open interest(Article 57(3)(c) of Directive 2014/65/EU)

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## 19 The number of market participants(Article 57(3)(e) of Directive 2014/65/EU)

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## 20 Characteristics of the underlying commodity market(Article 57(3)(f) of Directive 2014/65/EU)

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## 21 Volatility of the relevant markets(Article 57(3)(d)) of Directive 2014/65/EU)

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## 22 Entry into force and application

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## Signature

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Source: https://www.legislation.gov.uk/eur/2017/591 (the official version)
Page: https://openlegislation.uk/eu-regulation-2017-591
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.