exchange-traded derivatives

On December 30, 2020, HM Treasury (HMT) announced that the open access regime for exchange-traded derivatives (ETDs) introduced by the Markets in Financial Instruments Regulation (MiFIR) will continue to apply in the United Kingdom following the end of the transition period on December 31, 2020.
Continue Reading HMT Announces Open Access Regime for Exchange Traded Derivatives

On January 30, the Commodity Futures Trading Commission (CFTC) voted to publish for comment revised rules establishing position limits on derivatives contracts that provide for physical delivery. The vote was 3-2, with Commissioners Behnam and Berkovitz dissenting.
Continue Reading CFTC Proposes Revised Rules Establishing Position Limits on Derivatives Contracts That Provide for Physical Delivery

On April 4, the European Securities and Markets Authority (ESMA) published a risk assessment (Risk Assessment) that confirmed it sees no need to temporarily exclude exchange-traded derivatives (ETDs) from open and non-discriminatory access requirements applicable to central counterparties (CCPs) and trading venues, introduced by Articles 35 and 36 of the Markets in Financial Instruments Regulation (MiFIR). The Risk Assessment is required to be published by July 3, and permits the European Commission (EC), subject to ESMA’s conclusions, to adopt a delegated act to provide for an exclusion of up to 30 months for ETDs from the open access provisions.
Continue Reading ESMA Declines to Exclude Exchange-Traded Derivatives From MiFIR Open Access Requirements