Q&A · ESMA
Position limits for options and futures
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
Futures and options on the same commodity derivative share one position limit: options are converted into delta-equivalent futures positions, using the venue's or CCP's published delta where available, and delta-adjusted open interest of options is added to futures open interest when assessing criticality and setting limits.
Details
| Reference | ESMA_QA_1276 |
|---|---|
| Issuer | ESMA |
| Published | 23 Sept 2022 |
| Answered | 23 Sept 2022 |
| Submitted | 23 Sept 2022 |
| ESMA topics | Position limits |
| Earlier Q&A document | ESMA70-872942901 Commodity derivatives , Position limits, Q&A 9 |
Provisions it relates to
- Article 57 MiFID II · Position limits in commodity derivatives and position management controls in commodity derivatives and derivatives of emission allowancesInferred · 95%
- MiFID II (whole act)Explicit reference