Q&A · ESMA
Does trading activity in C6 contracts which takes place on OTFs after 3 January 2018 need to be counted towards the ancillary thresholds prior to that date?
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
For the ancillary-activity thresholds, C6 contracts that were financial instruments under MiFID I count throughout the calculation period, as OTC until 3 January 2018 and as OTF trades afterwards; this also applies to coal and oil C6 contracts, while REMIT wholesale energy products are treated differently.
Details
| Reference | ESMA_QA_1523 |
|---|---|
| Issuer | ESMA |
| Published | 19 Dec 2016 |
| Answered | 19 Dec 2016 |
| Submitted | 19 Dec 2016 |
| ESMA topics | Ancillary activity |
| Earlier Q&A document | ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 3.2 |
Provisions it relates to
- Article 2 MiFID II · ExemptionsInferred · 85%
- MiFID II (whole act)Explicit reference