1 December, 2016
The European Commission has today adopted the final set of secondary measures under the revised Markets in Financial Instruments Directive (MIFID II). This will allow market participants time to prepare for its application, as of 3 January 2018.
The two regulatory standards that have been adopted today focus on:
- Defining “position limits” i.e. the maximum amount of commodity derivatives that can be held by a single trader
- and “ancillary activity tests” that ensure that large non-financial firms trading a large amount of commodity derivatives are regulated under MiFID II.
With the adoption the Commission has put in place the two final pieces of the 28 regulatory standards that ensure the application of MiFID II as of 3 January 2018. The Council and the European Parliament now have three months to approve or object to the two standards.
Link for original press release.